Coronavirus social distancing restrictions means physical valuations are largely unable to take place leading lenders to significantly rein in their products.
The new service from Gateway offers three types of valuation, which the firm said aim to improve the traditional desktop survey.
Virtual aspects including current photographs, real time video footage and external property reviews are used for the valuations.
An ‘enhanced remote valuation’, a ‘virtual enhanced valuation’ and an ‘enhanced external valuation’ are on offer through the service.
The services supplement the individual knowledge of surveyors to create a more detailed valuation, Gateway said.
Peter Hughes, chief executive, added: “At a time when we all must ensure the safety of our staff, house sellers and purchasers, we are delighted to be the first to bring a zero-contact proposition of this scope to market.
“Inevitably, the property sector is facing significant challenges and by taking these steps, we believe we can support the continuing movement of the market.
“Through harnessing the significant power of technology, this then represents a significant step in the evolution of valuations within our industry.”
