VAS Audit

VAS Audit and Signature reach £200m milestone

VAS Audit has completed live auditing and assurance services on over £200m worth of valuations, comprising 500 separate reviews, for Signature Property Finance.

Since February 2017, when the partnership between VAS Audit and the specialist lender started, the business has undertaken approximately 15 audits per month, spanning across more than 60 surveyors at an average value of £400,000 per property.

Signature Property Finance appointed the external company to provide independent professional analysis of valuation reports to help reduce property specific lending risks prior to funding.

Daniel Owen-Parr, managing director at VAS Audit (pictured above), said: “Signature understands that while a standard valuation is a solid base on which to make a lending decision, an audited valuation which has gone through a second layer of independent verification helps to further reduce property specific lending risks.

“From day one, the relationship has been second to none; we have a fantastic working partnership whereby we speak regularly and highlight the steps we have taken to keep reporting standards at their absolute best.”

Tony Gilbertson, CEO at Signature Property Finance, added: “In a market where some lenders will throw out low rates and high LTVs to attract borrowers who rarely get the promised deal, we have focused on ensuring certainty of funding for our clients.

“If we agree a deal at the outset, we deliver on those terms; [there are] no nasty surprises or last-minute rate increases. 

“This approach requires total confidence in accurate valuations of the properties we are dealing with, which is where VAS Audit steps in — they consistently deliver what we need, when we need it.”

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