Shawbrook begins physical valuations and Skipton International returns

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  • 15/05/2020
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Shawbrook begins physical valuations and Skipton International returns
Shawbrook Bank is restarting physical valuations of properties from today while the unlocking of surveyors has also allowed Skipton International to return to the market.

 

Like many other lenders, the bank said it was introducing safety protocols to permit valuations to take place.

These include occupants vacating the property before inspection, surveyors wearing the appropriate personal protective equipment (PPE) & maintaining social distancing.

Shawbrook said it will also continue to encourage the use of desktop valuations where appropriate.

It added that allowing physical valuations means it can progress cases for houses in multiple occupation (HMO) and more complex properties, meaning it can restore some of the support for investors in this space.

Head of sales for property division Gavin Seaholme (pictured) noted that automated valuation models (AVMs) and desktop valuations will remain in place, but they were not always viable.

“This was always a really challenging point as we continued to support the market by keeping our doors open and lending and it’s fantastic news that our panel valuers are now back out there doing what they do best,” he said.

“Now with the right safety protocols in place, the resumption of physical valuation inspections brings back some much-needed stability for our brokers and their clients.”

 

Skipton International

Meanwhile, Skipton International has returned to the remortgage market with its offering for overseas investors.

It is initially accepting applications for remortgages, with a maximum loan to value (LTV) of 60 per cent.

The lender had stopped accepting mortgage applications as it was unable to complete in-person valuations.

Roger Hughes, business development manager at Skipton International said: “Prior to the Covid-19 pandemic, we were seeing strong demand from overseas residents for our UK buy-to-let mortgages.

“We hope our return to the remortgage market will provide an attractive offering for buy-to-let investors.”

 

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