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17 May 2017

The first in a series of new initiatives gives more choice to brokers and injects flexibility across the valuation process…

Shawbrook Commercial Mortgages today announces two new initiatives for its brokers with regard to valuations. This is the first in the lender’s new “Summer Stampede” series of developments that will be delivered over the coming months. It follows the launch of the “Spring Fling” series earlier in the year which was well received by the market and is set to encompass a range of enhancements across product, service and systems.

This first element of the campaign has two components. Firstly, the introduction of Automated Valuation Models (AVMs) for eligible Shawbrook Residential (RI & RI0) applications, which delivers time and cost savings for brokers to pass onto their clients.

Secondly, brokers may now access an expanded valuation panel allowing them to conduct their own due diligence and research to find a suitable match for the client. This is designed to provide brokers with enhanced choice and greater autonomy over the valuation journey with this new option available for both term and short term products. Brokers may also re-select a previous valuer (provided they remain on the Appraisers UK panel) to carry out further valuations for either the same client and / or the same security.

The programme will initially be piloted by a panel of Shawbrook’s existing Broker Partners in order to streamline the process over time, and ensure a smooth delivery when the lender looks to roll out more widely over the coming weeks.

Emma Cox, Sales Director for Shawbrook Commercial comments:

“We actively seek feedback from our Broker Partners with the simple aim of enhancing the broker’s journey and experience with us. The introduction of AVMs and the new valuation pilot programme are examples of that, and I am delighted that we have been able to execute them so quickly to cement quality and consistency at the heart of such a crucial stage in the completion process. I look forward to the remainder of the improvements planned in our “Summer Stampede” series and am confident that they will be of great benefit to all our business partners.”