Upon receiving the full applications, the formal offers were issued in three working hours.
Shawbrook Bank has worked with Watts Commercial Finance to provide formal mortgage offers to two customers within three hours of receiving the applications, using its digital portal MyShawbrook Buy-to-Let.
Using the Shawbrook portal, both cases received instant indicate mortgage offers (IMOs), followed by successful automatic property valuations (AVMs).
Upon receiving the full applications, the formal offers were issued in three working hours.
The customers then made use of Shawbrook’s e-Signature technology, allowing them to sign and return their offers within 15 minutes.
Both cases qualified for Shawbrook’s recently launched ‘Non-Portfolio’ product.
The offering, with a rate of 3.69%, was designed to accompany the enhanced digital application process and supports non-portfolio customers who qualify and proceed with an AVM.
Emma Cox, sales director of the property finance division at Shawbrook Bank, said: “These cases demonstrate exactly the type of effortless and efficient journey we’re aiming for, and there will be plenty more examples of this over the coming weeks and months.
"We’ve made significant enhancements to our Buy-to-Let offering with the introduction of a slick new portal and a complementary new product, so I am delighted to see our customers and brokers benefiting in this way already, and we have some more exciting improvements to announce soon.”
Emma Ross, commercial manager at Watts Commercial, added: “Formal offers within hours are timescales that are practically unheard of, so to receive not just one, but two is fantastic.
"Shawbrook’s new portal has made the application process so smooth and efficient, and if we receive a fast and easy experience, so do our clients, which is what we as brokers aim for.”
