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29 September 2016

Shawbrook Bank’s Commercial Mortgages division has released its monthly Performance Bulletin, shining a light on its service to brokers’ clients across their Underwriting, Legal and Valuation teams.

Remaining the only specialist lender of its kind to release such figures (as of September 2016), the Performance Bulletin provides insight into key areas of service delivery.

The data for August reveals that Shawbrook’s digital application service “E-AIP” has continued to perform well. With the Bank making this service available for Commercial as well as Residential Investment applications, over a third (36.9%) of brokers received an instant IMO whilst of those referred, 73.4% received a response within 4 hours from a Shawbrook underwriter.
Despite reduced employee resource, the Shawbrook teams managed to maintain stable Processing times for both Term and Short Term cases – even bearing in mind a 13% increase in the total items of post worked for Short Term business. The Bank’s Valuation panel also improved its month-on-month turnaround times for the second time in a row.

Emma Cox, Sales Director for Shawbrook Commercial commented on the data:

“It’s reassuring to see that reduced resource across the Commercial Mortgages division (due to the tail end of the summer holidays) didn’t harm our service delivery stats for the month of August.

“Our Legal panel had a challenge to keep turnaround times low and the time taken to process Term Refinance cases did increase. On the other hand, turnaround times on our “Non-rep” service (whereby clients can waive the right to solicitor representation to make the process to completion quicker) for Term Refinance business were impressive. Nearly half (48%) of cases were processed by Legal from start to finish in under 10 days.

“With autumn beginning and our teams building back to full strength, we are keen to capitalise on this and provide our brokers’ clients with the most efficient service possible as we move into the third quarter of 2016.”

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