The challenger bank’s latest service level agreement (SLA) figures showed that it issued a total of 5,815 items, comprising 3,948 term loans and 1,867 short-term loans during the month.
The lending teams were pushed hard by the April 1st deadline for the 3% rise in stamp duty which saw a huge influx of applications and resulted in a record-breaking day on 31st March.
Shawbrook also reported a 17% spike in the number of valuations carried out which resulted in a slight slowdown in business valuations but, elsewhere, turnaround times in its valuer panel performance remained stable despite the exceptional circumstances.
The lender’s legal partners, Pure Law and Wilson McKendrick, also dealt impressively with the surge in transactions, improving turnaround times across all four key indicators.
Karen Bennett, Sales and Marketing Director of Commercial Mortgages at Shawbrook, said: “March was an unprecedented month in terms of completions for the entire mortgage industry, and we're pleased to report that Shawbrook was no exception.
“The lending teams alongside our legal partners at Pure Law and Wilson McKendrick worked tirelessly over the Bank Holiday weekend, endeavouring to meet the needs of our brokers’ clients.
“This inevitably had some impact on SLA delivery but, overall, the Shawbrook teams can be proud of their dedication throughout this period of change.”
Leave a comment