The lender uses AVMs to support the application process for single dwellings up to 75% LTV, but plans to add desktop commentary into case applications that may not meet AVM requirements.
It has issued documentation disclosing the full split of its approach to valuations across all application types, with a fee scale in support of its panel of broker partners.
Shawbrook will also be resuming its lending activity in Scotland — effective immediately — after a temporary pause earlier this month due to the challenges presented by Covid-19.
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Gavin Seaholme, head of sales at Shawbrook (pictured above), said: “Building desktop commentary to support AVM applications seemed like a straightforward and elegant solution to cater for this short-term situation…
“The key is allowing both AVMs and/or desktop valuations in order to arrive at a completion.
“In terms of our stance around lending into Scotland, this was always something that was to be a temporary measure, and we are delighted to be able to support this region moving forward.”
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