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NatWest and Santander pause physical valuations in Leicester

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  • 02/07/2020
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NatWest and Santander pause physical valuations in Leicester
NatWest and Santander have paused physical valuations in Leicester, as the city returns to lockdown following a surge in local coronavirus cases.

 

Schools and non-essential shops are closed in the area from today, and some big lenders have said they will not be carrying out physical valuations while the tighter restrictions are in place.

The local lockdown is due to be reviewed on 18 July.

A spokeswoman for NatWest said: “We are following government guidelines very closely in line with social distancing for valuations. We will continue to monitor this and adjust accordingly.”

Santander said its valuations that require property entry will not be taking place, but will still be conducting AVM and desktop valuations.

Graham Sellar, head of mortgage development at Santander said: “We know from our experience during the height of lockdown that while we were unable to physically send valuers into properties, we were able to progress 70 per cent of mortgage applications using AVM and desktop valuations.

“As a result, we’re confident that we’ll be able to continue support those looking to buy a property in Leicester during this time.”

Barclays, Lloyds and Nationwide have not been able to confirm their position after being approached by Mortgage Solutions.

HSBC, however, is still carrying out physical valuations in Leicester.

A spokesman said: “We are pleased to be able to continue to support the housing market at this very difficult time.”

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