Surveyors to adopt remote valuations ‘to help speed up mortgage offers’

Gateway Surveyors, part of SimplyBiz, says that it will be the first surveying firm to go live with online valuation platform, Remote Valuation Assist, after agreeing a new partnership with remote valuation technology provider CoreLogic U.K.

The system enables lenders to receive a valuation report, without surveyors physically inspecting the property.

The Remote Valuation Assist platform uses local surveyor expertise, alongside third-party data and imagery, to provide what Gateway Surveyors and CoreLogic U.K. claim are significant improvements from traditional desktops and Automated Valuation models.

Pete Hughes, chief executive, of Gateway Surveyors, is hopeful that the zero contact property valuations solution will prove popular with lenders and borrowers.

He commented: “Gateway Surveyors has established a long working relationship with CoreLogic U.K and is delighted to be the first surveying company to use Remote Valuation Assist in the live environment, where it has so many potential opportunities for our lender clients.

“Considering ways in which we can improve our environmental, social and governance impact overall is key to Gateway’s long-term strategy, and I’m pleased to be able to offer a solution which is a step forward in terms of both functionality and sustainability. Gateway recognises the need to adapt to the ever-changing situations in the housing market, which are likely to evolve further over the coming years.”

Mark Blackwell, chief operating officer, of CoreLogic UK, added: “Valuation services combining technology, data, surveyors and home occupiers is further evidence of how we are working in partnership with clients to help speed up mortgage offers, mitigate risk and maintain productivity.”

Homesearch EOS
x

Email the story to a friend



3 Comments

  1. Will2

    Approximation not valuation.

    Report
  2. Woodentop

    So if a valuation is wrong, does this mean that any subsequent valuation will use this data and come out with the same value that is wrong?

     

    Case in point and seen this so many times, a property a couple of weeks ago was down valued by nearly £100,000 because the surveyor was not local and no comparable sales (only a couple of inferior properties). It is located in a very sort after location and had no faults. Agents in the next town are selling inferior properties like hot cakes for same or more asking price without any problems. The seller and buyer, both agreed that the valuation was wrong and changed lender for a new valuation. Strange that the next surveyor should come in with the exact same valuation. Lightening can strike twice or is there an existing data base every time a surveyor does a report (wink wink).

    Report
  3. Richard Copus

    The first thing a trainee estate agent or surveyor used to be told was that you cannot value a house without actually seeing it warts and all.  My clients, who generally live in individual, period properties in rural locations are going to dread this.  It’s bad enough as it is with out of area surveyors who normally deal with bog standard street liners tossing coins before they write down their valuations.

    Report
X

You must be logged in to report this comment!

Comments are closed.

Thank you for signing up to our newsletter, we have sent you an email asking you to confirm your subscription. Additionally if you would like to create a free EYE account which allows you to comment on news stories and manage your email subscriptions please enter a password below.