Shawbrook Bank and broker Commercial Expert have completed a buy-to-let mortgage in seven days using its buy-to-let platform.
Commercial Expert is one of the brokers on Shawbrook’s Strategic Partner Panel and has been trialling the platform ahead of launch.
The online platform, due to launch next month, can accept buy-to-let applications between £50,000 to £25m, up to 75% LTV and has no limitations on the number of properties or applicants per application.
Last week the bank announced that the new technology aimed at streamlining the entire application process for brokers, enabled them to provide a Formal Mortgage Offer (FMO) within 48 hours.