LV= resumes physical valuations for equity release

In April, LV= launched desktop valuations to help customers access lending during the coronavirus outbreak.

Submitted applications that were initially put on hold are now being re-prioritised for physical valuations where possible.

Physical valuations can not currently take place in Scotland or Wales, or in cases where anyone in the property has symptoms of Covid-19, is shielding, or is considered to be in the extremely vulnerable category.

David Stevens, director of savings and retirement at LV=, said: “The careful re-introduction of physical valuations will be a clear indicator of how the equity release market will respond to the coronavirus crisis as we come out of lockdown.

"Those unable to have a physical valuation can still have the option of desktop valuations to progress their applications subject to meeting our desktop valuation lending criteria and we will continue to help financial advisers to find the right equity release solutions for their clients.”