Shawbrook has made a range of enhancements to its products, services and systems to improve the valuation process for intermediaries.
The lender’s Summer Stampede campaign sees the launch of automated valuation models (AVMs) for eligible residential (RI & RI0) applications, delivering time and cost savings that brokers can pass on to their clients.
In addition, brokers are now able to access an expanded valuation panel, allowing them to conduct their own due diligence and research to find a suitable match for the client.
The move is designed to provide brokers with enhanced choice and greater autonomy over the valuation journey.
Brokers may also re-select a previous valuer to carry out further valuations for the same client or security, as long as they remain on the appraisers UK panel.
The programme will initially be piloted by a panel of Shawbrook’s existing broker partners before a wider roll-out.
Emma Cox, sales director for Shawbrook Commercial, said: “We actively seek feedback from our broker partners with the simple aim of enhancing the broker’s journey and experience with us.
“The introduction of AVMs and the new valuation pilot programme are examples of that, and I am delighted that we have been able to execute them so quickly to cement quality and consistency at the heart of such a crucial stage in the completion process.
“I look forward to the remainder of the improvements planned in our Summer Stampede series and am confident that they will be of great benefit to all our business partners.”
Rebecca Robertson, director and financial planner at Chatham-based Evolution for Women, said the introduction of automated valuation was “great – as long as it can be challenged”.
“It is quicker – you don’t have to wait for a survey to be done,” she explained, but warned that such systems often only include core statistics and can overlook improvements made to properties.
“If it can’t be challenged, then people won’t like it,” she added.
simon.allin@ft.com
