The loan was brokered via Shawbrook’s broker partner Springview Finance at a gross loan value of £234k at an LTV of 67%. Initially there were concerns about payments into the customer’s bank account, however, upon contacting the broker, it was revealed that there were no issues.
Despite legal roadblocks, the process was completed in a matter of hours and occurred only two days after the Formal Mortgage Offer (FMO) was issued, and only a week after the EU referendum.
Emma Cox, sales director for Shawbrook Commercial, highlighted that the referendum result didn’t hinder the mortgage process.
“Considering that the loan [was] completed a mere week after the result of the EU referendum, our lending teams did a superb job working with Springview to get this over the line [so] quickly.
“Despite any post-Brexit uncertainty, we retain a strong appetite to lend to all areas of the professional investor community.”
Isaac Reich, broker at Springview Finance, said: “A turnaround of just two days between issuing the offer and completing on the loan is exceptional.
“My client was thrilled by the fact that the Shawbrook teams were able to process the loan so quickly, without sacrificing quality or due care.
“They will definitely be considering Shawbrook for any future property finance requirements.”
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