Shawbrook records strong September turnaround times

Of the 3,586 applications received 2,937 were also processed within just four hours, amounting to 88.7%.

Shawbrook’s Pure Law short-term loan team turned around an additional 22% of cases within 10 days in September compared to August.

Karen Bennett, sales and marketing director, commercial mortgages, Shawbrook Bank said: “We value transparency highly and believe making these figures public helps brokers to see clearly how our processes are working.

“We’re pleased that we achieved the desired improvement in our figures over the last month, particularly given the additional 500 items of post the team processed in September, and we remain committed to improving our service offering further.”

Shawbrook’s valuation times were generally faster in September compared to August, as business valuations took 8.33 days from 12.20 in August, commercial valuations took 10.80 days compared to 10.74 in August and residential valuations took 5.87 days compared to 7.68 the month before.

For short-term applications refurbishment valuations took 4.64 days from 5.33 in August, residential took 4.00 days compared to 4.65 in August, while commercial valuations took 8.04 days to process compared to 7.42 in August.