Shawbrook releases SLA figures

Shawbrook shares the monthly data with its broker partners, remaining the only lender to publish these figures.

July’s results show the Bank was able to uphold service levels for its brokers, despite the seasonal impact of the summer holiday period. Shawbrook saw improvements in processing times and a good performance from the teams across the various SLA categories.

Shawbrook processed a total of 4,649 items, comprising of 3,468 term loans and 1,181 short-term loans.

The Bank revealed that over 99.6% of term loans processed were within 72 hours, with 100% of short-term loans processed within 48 hours.

The breakdown of Shawbrook’s valuation times shows a significant drop in the turnaround times for Business Valuations from June to July, down to 8 days from 17 on average.

Karen Bennett, Sales and Marketing Director, Commercial Mortgages, Shawbrook Bank said:

“Many businesses would see releasing SLA data on a monthly business as a high-risk approach, but we take a different view. Efficient processing across the offering is critical in today’s fast moving property market, so we believe it’s right to be open with brokers about our standards.

“We know our brokers appreciate this demonstrable commitment to transparency, and 11 months after we released our first set of SLA figures, we remain hopeful that Shawbrook’s openness will help set the standard for transparency in the industry. It remains to be seen whether other lenders will follow suit.”