URGENT NEWS RE: VALUATIONS
Following the government’s announcement on 23rd March mandating that people stay at home other than for essential activities, there is now significant disruption to property valuation services with some suppliers withdrawing their services.
Having anticipated this, we are working on a solution which we hope will be available shortly. However this means we are unable to progress existing and new applications above 70% LTV without a valuation and these cases will no longer be accepted. New and existing applications below 70% LTV and without a valuation will remain in our pipeline until we can obtain an appropriate valuation. The valuations solution we are exploring will not be suitable for our full product range and so, to be fair to you and your customers, we have now also withdrawn those further products that we expect will still require a physical valuation, such as New Build. This is in addition to the removal of all BTL and Residential products above 70% LTV.
Apologies for the disruption this will cause to you and your clients, please bear with us and we will communicate more around our new valuations process as soon as it is ready.