The AVM was defined in 2008 by RICS AVM Standards Working Group as:

Richard Deacon, sales director at Masthaven, said: “In a bridging context, AVMs are used purely for speed purposes. “At a low-risk loan-to-value, they can be useful for speedy completions as they don’t require a viewing of the property by a surveying professional.”

What are the benefits of AVMs?

Precise Mortgages launched automated valuations for bridging last year and Gareth Lewis, director of bridging at Precise Mortgages, felt that AVMs allowed a lender to gain suitable confidence in a value attributed to a property by taking sales data compiled by Rightmove and other similar models.

A guide to AVMs

By Tom Belger

6 July 2017

Automated Valuation Models (AVMs) are being used for a growing number of bridging and property finance transactions

Section: Broker Guides

Source: Bridging & Commercial — https://bridgingandcommercial.co.uk/a-guide-to-avms