Assetz Capital shortens loan provision time with Vas Panel

Assetz Capital shortens loan provision time with Vas Panel

 

The valuation management service is a database comprised of 170 firms which allows lenders to instruct valuers. 

Assetz Capital has used the panel since 2017, and claimed that around 80 per cent of reports are returned within seven days enabling quicker application processes. 

Mark Standley, national commercial director at Assetz Capital, said: “The care, attention, support and personalised service we receive from Vas has been invaluable in helping us to successfully manage huge demand for the government’s Coronavirus Business Interruption Loan Scheme (CBILS) ahead of various deadlines since last summer. 

“Going forward, with a refreshed and sharpened proposition, the relationship now facilitates a high volume of transactions through timely efficient bridging alongside our funding for larger value development loans and commercial mortgages up to £10 million.” 

Graham Moore (pictured), managing director for Vas Panel, part of the Vas Group, added: “Our dedicated team work seamlessly with our panel technology to de-risk the valuation process and ensure this step of the lending process is completed as quickly and thoroughly as possible to help deliver quicker drawdown times. 

“We have worked closely with Assetz Capital since 2017 and it is through open and honest dialogue, and by challenging each other, that we have been able to deliver a 15-day reduction in time-to-cash. But that journey doesn’t end here, we will continue to work collaboratively to minimise this timeframe further.”