Spotlight: Shawbrook Bank

Shawbrook Bank

 

Shawbrook Bank

Shawbrook is a new savings and lending bank who specialise in the savings and lending markets where they have solid experience and knowledge.

Shawbrook give their customers a straightforward, no-nonsense alternative to the high street. And they combine traditional banking values with a modern approach.

Shawbrook think of themselves as the best of banking past – good customer service and common sense decisions – with the easy access of a modern bank. Shawbrook use common sense and judgement when they take decisions, not a rigid computer score.

What they do for who, and how they do it

 

  • Savers. Shawbrook offer clear, competitive rates for depositors so that they can grow their savings. And you don’t have to be an existing customer to open an account.
  • Small-to-medium businesses. Their approach to lending is flexible and their approval-process is efficient. Shawbrook can help businesses grow and succeed – they want to help businesses write their success stories.
  • Brokers. All Shawbrook’s lending is through carefully selected independent brokers. This keeps their costs down and helps them offer competitive rates. It’s good for their brokers because they can grow their business. And it’s good for customers because brokers can find the right products and guide customers through the lending process (brokers even fill in most of the forms).

Shawbrook secured loans (often called second-charge loans or home-owner loans) are only available to home owners and are arranged through brokers.

People use secured loans to finance improvements to the home, reduce their monthly interest by consolidating existing finance into a more affordable payment or pay for special one-off items like a wedding or a long-planned holiday.

Shawbrook only work with a small number of independent brokers who meet their strict requirements, and specialise in secured loans.

Shawbrook have been in business since 1944 and became a licensed bank in 1971. RBS Equity Finance bought the bank in January 2011, and provided substantial capital to help the business grow. In 2011 Shawbrook bought additional lending businesses, and changed their name to Shawbrook in October 2011.

Shawbrook has no legacy lending from the financial crisis, so they’re free of toxic debt.

Shawbrook are regulated by the Financial Services Authority, and their brokers are licensed by the Office of Fair Trading and regulated under the Consumer Credit Act 1974 and 2006.

 

Shawbrook Bank
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