Signature Property Finance and VAS Audit together reach £200m of audited valuations

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  • 10/06/2021
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Signature Property Finance and VAS Audit together reach £200m of audited valuations
VAS Audit has completed auditing and assurance services on more than £200 million of valuations for short-term property finance provider Signature Property Finance.

 

The audit company was retained by Signature Property Finance to provide independent analysis of valuation reports to decrease lending risks prior to funding.

VAS Audit and Signature Property Finance have been partners since 2017, and in that time VAS Audit has undertaken 500 reviews of valuations, equivalent to 15 audits a month across 60 different surveyors with an average value of £400,000 per property.

Signature Property Finance’s chief executive officer Tony Gilbertson (pictured) said: “In a market where some lenders will throw out low rates and high loan to value, to attract borrowers who rarely get the promised deal, we have focused on ensuring certainty of funding for our clients.

He added: “If we agree a deal at the outset, we deliver on those terms; no nasty surprises or last-minute rate increases. This approach requires total confidence in accurate valuations of the properties we are dealing with, which is where VAS Audit steps in. They consistently deliver what we need, when we need it.

VAS Audit’s managing director Daniel Owen-Parr said: “Signature understands that while a standard valuation is a solid base on which to make a lending decision, an audited valuation which has gone through a second layer of independent verification helps to further reduce property-specific lending risks.”

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