LendInvest introduces desktop valuations for short-term loans
LendInvest is now offering desktop valuations for its short-term loan products where physical valuations are not possible.
"As we continue to operate through unpredictable times, it is imperative to be prepared for any sudden changes to the way we are able to work."
Desktop valuations will now be available for borrowers seeking residential bridging and auction products on loan sizes up to £250,000 with a maximum LTV of 65%.
These valuations will be available for properties in England, Wales and Scotland up to a value of £1 million.
LendInvest will be utilising desktop valuations via Connells to ascertain the security value, in absence of a valuer being able to make a physical visit to the property.
Justin Trowse, director for bridging at LendInvest, said: “As we continue to operate through unpredictable times, it is imperative to be prepared for any sudden changes to the way we are able to work.
"While at this time physical valuations are permitted to go ahead, we realise we must be equipped for any eventuality should that change in the future.
"Adding the capability to utilise desktop valuations for more of our product suite allows us to stay one step ahead, and ensure we can deliver the finance our borrowers need with the same speed and flexibility we always have.“
Breaking news
Direct to your inbox:
More
stories
you'll love:
This week's biggest stories:
This week's biggest stories:
Budget
Budget: Government confirms details of 2.5% deposit first-time buyer scheme
FCA
Advice firm employees plead guilty after defrauding clients of £2m
State Pension
Budget: Government confirms state pension tax protection
FCA
FCA restricts six lenders over anti-money laundering concerns
Budget
Budget: Government reduces Lifetime ISA withdrawal charges ahead of new FTB ISA launch
Inflation
Inflation rises to 3.5% as mortgage rates outlook shifts
