With Shawbrook’s Data & Projects team carrying out ongoing system upgrades behind the scenes, January 2017 was the most successful month to date for E-AIP – 45% of applications resulted in a credit-backed IMO within 15 minutes for brokers using the service.
It is available for all Specialist BTL and Commercial product applications and there have been over 400 completions via E-AIP since it was introduced.
The technology was designed with several core benefits in mind for brokers and their clients, including providing a hard credit-backed IMO within 15 minutes of application, total control over the application process, and in-built pre-population features to reduce duplication throughout the application process. For those brokers that are referred, an experienced Shawbrook underwriter will respond to the broker and explain why within 4 hours (this is down from the historic SLA of 48 hours before E-AIP’s introduction).
Managing Director of Shawbrook Commercial Mortgages Karen Bennett adds:
“How can we make our brokers’ lives easier? It is a question that drives the Commercial Mortgages team within Shawbrook Bank and one of the main reasons we introduced E-AIP back in April 2016.
“The stats make it clear: the commitment of our Data & Projects team is having a positive impact on both broker and borrower. This is E-AIP at its best: innovative, user-friendly and increasingly intelligent.
“Whilst E-AIP removes much of the manual element of the application process, it is important to note that our expert teams remain at the end of the phone to support. We are a business built on personal relationships and our technological improvements will always work in tandem with this core business feature.”
