Shawbrook Bank has released the latest two months of performance figures for the commercial mortgages division to be more open and transparent, Karen Bennett has said.
The sales and marketing director for the bank said this was part of the bank’s plan to improve the efficiency of its services. The statistics compare its performance data from June to July.
The amounts of time taken to process business, commercial and residential valuations were compared, which all showed significant improvement in July.
Ms Bennett said: “We are always looking for ways to show our commitment to improving our services and publishing these figures regularly will help prove this.
“We will be bringing out these figures every month and we hope that this openness will help set the standard for transparency in the industry.”
Adviser view
Mike Richards, managing director at London-based Mortgage Concepts Associates, said he thought that, to an extent, Shawbrook’s example was one that should be followed.
He said: “In some sectors, the publication of performance statistics is beneficial to consumers as well as brokers, as it is easier to compare performance.
“Areas of the industry that are not regulated, in particular, will benefit from more transparency.”
