Aldermore Bank

Aldermore resumes physical valuations for BTL in England

Aldermore Bank has resumed physical mortgage valuations on rental properties for BTL purchase and remortgage in England.

Last week, the lender reintroduced physical valuations on residential properties.

The bank stated that it would be adhering to the strict social distancing and safety measures in line with government guidance.

It said it would ensure a detailed risk assessment is undertaken ahead of a valuation appointment, so that the safety of residents and surveyors is prioritised.

Remote valuations will continue to take place when possible in Scotland and Wales. 

Applications in these countries that require physical property inspections will be put on hold until restrictions have been reduced.

Larger rental properties, such as HMOs, will not be suitable for a physical mortgage valuation until social distancing restrictions have further eased.

Jon Cooper, head of mortgage distribution at Aldermore, said: “We continue to back our landlord customers through this most testing of times and are committed to providing options and assistance for them. 

“Landlords play a vital role in providing much needed support to the private-rented sector and local economies across the UK, so we are glad we can help them get going on their future portfolio plans.
“Safety, of course, remains our number one priority. 

“The protection of our customers and surveyors is paramount, and we will be adhering to the government guidance to ensure all valuations are carried out in a safe way.” 

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