Shawbrook Bank

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Shawbrook Bank is one of the more recent entrants into the banking industry. It was founded in 2011 to meet the increasingly diverse needs of small and medium-sized enterprises as well as individuals. In a changing economic environment, its founders recognised the demand for the kind of bank that could do things differently from the old giants. Their idea was to combine new methods and financial products with what they describe as 'the old-fashioned quality of good sense'.

That means not being stuck in rigid procedures and inflexible policies. Shawbrook knows that we are all individuals and no two people will need the same thing. That's why they focus on a genuinely personalised service. Each customer's requirements are assessed on a case-by-case basis.

Shawbrook Bank provides personal loans to its customers either directly or through its network of financial partners. Using a combination of human oversight and the latest technology, they promise transparent pricing and credit decisions that are fast and fair.

Shawbrook Bank can provide personal loans of up to £35,000. In most cases, they offer a fixed rate of interest which means the monthly repayments remain the same throughout the term of the loan. This kind of certainty is one of the most valuable elements of what they do. Loans can be either secured, which means the borrower puts up property as a guarantee of repayment, or unsecured, which means the loan is not tied to anything else, it is simply a personal debt.

Shawbrook's personal loans can be used for virtually any purpose. Maybe you want to consolidate existing debts under one simple scheme, or perhaps you require home improvements, a new car or funds for some form of large expenditure. A Shawbrook Bank loan could be the solution.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT

Shawbrook is committed to providing a service that other lenders do not. If they can say 'yes' they will do so. However, even with their much more open approach, they do have to take into account a few aspects of a borrower's status.

There are four basic requirements that you will need to satisfy:

• You need to have been legally resident in the UK for at least 3 years
• You must be aged 21 years or over and below the age of 75
• Your annual income must be at least £15,000
• You will need a personal account with a UK bank

These are not intrusive questions and they are designed to show that you will be able to meet the repayments.

There is a simple 4-step online application process.

• Step 1. Click the Get Quote button here on our site. On the Shawbrook site, go to Personal Loans and click on 'Get my personalised quote'. Here you will find a short form which you need to complete in order to receive a quotation. It will ask basic questions about you, your address history and your employment and income.
• Step 2. Within just a few moments you will receive your quotation showing the interest rate, the loan amount, the monthly payment and the total you will pay back over the full term. You need to accept this quotation and then agree to standard credit search.
• Step 3. Once the credit check is complete and the loan is approved, you'll receive by email an e-signature pack with documents for you to check and sign.
• Step 4. Return the signed documents and wait for the money, which will be in your bank account within 3 working days.

Because Shawbrook Bank is relatively new, you may not have heard of them but a quick look at their online reviews will give you an idea of how well their banking service in general and their loans in particular are ranked by past and existing customers.

As of February 2020 Shawbrook has had 6,408 reviews on Feefo and an average rating of 4.9 out of 5. On Trustpilot there are 2,880 reviews and a rating of 4.6 out of 5. Smart Money People has 680 reviews and a rating of 4.9 out of 5. Many financial publications rate them to be one of the fastest-growing brands in the global market.

At FreePriceCompare.com we are dedicated to providing the best comparison service for consumers in all sorts of markets. Our assessment of Shawbrook Bank is entirely independent.