Shawbrook completes £151,500 refinance

Shawbrook completes £151,500 refinance




Specialist lender Shawbrook has announced the completion of loan for £151,500 in 17 days.

The loan – a RI0.2 product for a simple residential investment at 76% LTV – was brokered by Alderbrook Financial Solutions.

Alderbrook received an instant offer via Shawbrook’s E-AIP (electronic agreement in principle) online application system, which allowed the valuation to be booked in for two days later.

Prior to the formal mortgage agreement and completion of the valuation, Shawbrook worked with the broker to gather all outstanding information to allow the lending manager to review the case in good time.

Once the valuation report was received, the lender manager sanctioned an FMO (formal mortgage offer) the next day.

The client paid the commitment fee immediately and deal was finalised by the solicitors in 24 hours.

Kinak Thakore, broker at Alderbrook Financial Solutions, commented: “My client was eager to raise capital on their existing property in Coventry.

“I work with a range of lenders to ensure my clients receive the best possible deal for their individual needs – in this case that lender was Shawbrook Bank.

“I was impressed throughout by the intelligent lending decisions made by the Shawbrook teams.

“Their commonsense approach, combined with the efficiency of the valuation and legal process, resulted in the desired outcome for my client.”

Emma Cox, sales director for Shawbrook Commercial Mortgages, added: “Ensuring a straightforward, positive case journey for our brokers’ clients is important to us here at Shawbrook.

“With just 17 days between issuing an instant IMO [indicative mortgage offer] and completing on the loan, the lending team on this case lived up to our high standards. Our thanks also go to the broker Alderbrook Financial Solutions for their expertise in achieving a quick completion for their client.”

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