The option is available on all small HMOs with up to six bedrooms and valued up to £1m.
The hybrid report will provide a bespoke valuation assessment for HMO properties, cost reductions for broker’s clients and the agreed service level agreement for a valuation will be set at seven days.
This change has come about as the result of feedback from Shawbrook’s panel of broker partners and valuation panel Appraisers UK.
- HMOs seen as most popular with investors
- BFS: More and more investors are turning to HMOs
- InterBay launches new HMO refurb range
David Morris, head of credit at Shawbrook commercial mortgages, said: “We have been working closely with our valuation panel at Appraisers UK recently in an effort to clarify the valuation of HMO properties and improve the service that customers receive.
“The new HMO hybrid option will also result in significant cost benefits and time savings for our brokers’ clients.
“It forms part of our ongoing commitment to improving our service proposition, and we will continue to work side by side with our partners to provide an ever more efficient offering in 2017.”
Leave a comment