Marlborough Sterling (MS) has been chosen by property survey and valuers Direct Valuations to provide a workflow management system for lenders. It will automate the process of lenders and clients instructing surveyor firms, reducing the time it takes for lenders to receive the valuation and reducing costs.
MS will adapt a web-based system, Valnet, which receives instructions electronically. The system selects a surveyor from the Direct Valuations database of 500 firms and notifies it electronically. On completion, the surveyor updates via a secure website which the lender can view.
The system eliminates manual intervention in most cases and checks each step has been completed before passing on to the next stage. It is designed to support all current systems while accommodating new products, surveyors and customers.
Steve Morris, head of mortgage and lending solutions at MS, said: ‘The interface between lenders and surveyors is one of the key business-to-business touch points within the market. We aim to provide solutions that automate these touch points.’