As part of the firms’ partnership, which fully commenced in March 2021, the lender has been using the panel management system for all semi-commercial and commercial property applications, as well as hotels, healthcare premises, petrol stations, schools, farms, kennels and catteries.

In line with the agreement, VAS Panel’s service is used on loan security valuations to ensure the most relevant third-party RICS-qualified surveyors are instructed based on location, deal type and value.

VAS has also been carrying out quality control processes, and has been providing detailed monthly reports into all activity.

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Emily Johnson, head of operations at Allica Bank (pictured above), said: “As a relationship-led bank dedicated to helping established SMEs with the finance they need to grow, it’s really important we work with partners we can trust and rely on to help us deliver that service.

“VAS Panel has ensured we can deliver quick and accurate decisions to help our customers get the commercial mortgages they need.”

Gina May, chief operating officer and co-founder of VAS Valuation Group, added: “Commercial applications are seldom straightforward, so it’s imperative that the selected valuer understands the region, sector and, in most cases, how equivalent local business are performing.

“We pride ourselves on the quality of our valuation panel and maintaining high reporting standards, which is realised through strict processes, due diligence and exacting compliance — this allows Allica to do what they do best: supply an exceptional customer experience.”