More of the banks and building societies are using system-generated valuations to get mortgages agreed while property valuers cannot work.
Trinity Financial’s brokers have access to a wide range of lenders using automated valuation models (AVM's) to work out property values. These systems instantly generate a valuation without the need for anyone to visit the property.
Accord Mortgages, Barclays, Bank of Ireland, HSBC, Nationwide for Intermediaries and Platform are just some of the lenders still offering competitively priced mortgages using AVM’s.
Aaron Strutt, product director at Trinity Financial, says: "Some of the mortgage lenders have been hit harder than others by the effects of the coronavirus and they have stopped providing pretty standard mortgages to first-time buyers with a lower deposit and some landlords.
"The lenders have been using system-generated valuations for some time to speed up the mortgage process. As soon as the valuers confirmed they would not be able to physically inspect properties the lenders knew they would have to be more reliant on technology."
Call Trinity Financial on 020 7016 0790 to secure a mortgage