The digital solution is now also accessible to Shawbrook's commercial investment customers.
Shawbrook Bank has revealed developments to its online product switch platform, MyShawbrook Portal.
The platform was launched in 2019 to streamline the product switch process for existing buy-to-let (BTL) customers, allowing them, and broker partners on behalf of their clients, to submit product switch applications when reaching the end of their mortgage term.
This led to a reduction in processing times to 48 hours.
Following the recent updates, the digital solution is now also accessible to Shawbrook's commercial investment customers, and eligible customers will receive an instant formal mortgage offer at the end of the application journey.
Shawbrook has also implemented e-signatures, allowing customers to immediately sign and return their offer.
Claire Rankin, commercial director, property division, at Shawbrook, said: “Our aim when we built this platform was to provide our customers with the easiest possible way to switch products with Shawbrook, so I’m delighted that these latest enhancements will make the journey even more efficient.
"Being able to provide an instant offer at the end of the application journey is a significant step forward, and will save our customers and broker partners valuable time and resource.
"This is just another example of how we can leverage technology to enhance the experience of our customers and brokers, and we have many more exciting plans in the pipeline that I look forward to sharing soon.”