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Nationwide to carry out as many desktop valuations as possible

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  • 06/04/2020
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Nationwide to carry out as many desktop valuations as possible
Nationwide said it is working to carry out as many automated and desktop valuations as possible during the coronavirus outbreak.

 

The lender said there are no physical valuations taking place on its cases, in line with government guidelines on social distancing.

As a result, Nationwide is working through cases to decide which are suitable for a desktop valuation.

If a property can be valued without a physical visit, brokers will receive notification of the booking date – the date the case is due to be assessed – once this is completed there will be a notification provided as normal.

New build properties where the development has been visited in the past 12 weeks and a UK Finance Disclosure Form is available will be considered for a desktop valuation.

The lender confirmed it is not accepting appeals on desktop valuations.

 

High demand areas

For cases received on or before March 27, it will be decided if the property is suitable for a desktop valuation by April 17.

After this date, it’s expected cases will be assessed within three weeks.

London, Swindon, Bristol, Northampton and Cardiff are currently being impacted by high demand so could take longer to complete, Nationwide said.

Valuations in Scotland where a Scottish Home Report has been attached, the process remains the same.

Nationwide said where a property is not suitable for a desktop assessment, the process will be put on hold until government advice allows valuers out to conduct physical valuations.

 

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