30 January 2020
Broker partner, Brightstar Financial, approached Shawbrook with a client looking to consolidate over £94,000 of debt into are far more manageable and lower repayment structure. A second charge mortgage was selected over a remortgage due to the convenience and lack of ERCs.
Two days after the case was submitted to the team, we were able to quickly issue a binding offer. Due to the customer meeting the standards of our prime range, a 5 year fixed rate of 4.85% for the full amount of £94,000 was provided at a loan to value of 74%.
3 working days after the binding offer was issued, the case completed and the customer received the full funds – a total duration of just five working days. Not only was the client delighted with the speed and efficiency of our application process, but their monthly repayments are now over £700 less than before.
Darren Perry, Head of Second Charge Mortgages at Brightstar says “Not only were we in a position to be able to secure our clients a market-leading rate but we were also able to get all documents completed by e-Signature. This presented a fantastic opportunity for us to be able to move the application forward at great pace so that our clients could start to make a monthly saving on their unsecured debt repayments ASAP.”