Property News > Shawbrook launches new digital buy-to-let portal

Shawbrook launches new digital buy-to-let portal

An innovative new buy-to-let portal has been brought to market by Shawbrook Bank, designed to revolutionise the journey to obtaining a buy-to-let mortgage and improve the experience for brokers and customers. 

The portal, known as MyShawbrook Buy-to-Let, is the first of its kind in the specialist market and offers instant indicative mortgage offers, including automatic property valuations where applicable. It uses actual valuation data and sophisticated insights via API technology to allow Shawbrook to provide customers with quicker, more consistent and more reliable credit decisions. The portal also reduces the need for unnecessary documents and data input by integrating with third parties such as Hometrack and Companies House.  

Ahead of the launch, Shawbrook piloted the technology with key strategic partners to better understand the strengths for users. During this period, it found that some cases progressed to the formal mortgage offer stage within just 24 hours and were completed in as little as seven working days. 

In addition, Shawbrook has supplemented its offering by recruiting 11 new team members to its underwriting and support teams in recent weeks in a bid to improve the level of service and support it can provide to both brokers and customers. Further improvements are also expected over the coming weeks and months. 

Claire Rankin, Director of Strategy and Digital Transformation at Shawbrook Bank, comments: “We’re proud to unveil our ground-breaking new portal to the wider market, following a successful pilot programme. This is a key milestone in our digital journey, aimed to transform the mortgage process for both brokers and customers. We want to provide an easy and frictionless journey and to achieve this, we need to strike the perfect balance of advanced technology and expert people. These are both areas we have made significant investment in over recent months, and we’re excited for our brokers to reap the benefits.” 

Phil Gray, Managing Director at Watts Commercial, comments: “As you would expect from Shawbrook Bank, MyShawbrook Buy-to-Let is a really user-friendly system, which is straightforward and easy to use. It’s quick, uncomplicated and really adds value to the process for both brokers and Shawbrook. I would honestly say it’s the best platform in the market and our favourite one to use.”

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