COVID-19 Update 26/03/2020
We wanted to update you on where we are on two key areas of concern; the valuation and legal processes which you can read more about below. We’d also like to share with you our latest service level stats which are, as at 26th March:
On-site valuations have been on hold since the Government lock-down on Monday night, but we had already been in very positive discussions with our valuer (e.surv) and our funders about alternative solutions. This week we have continued daily discussions and negotiations with our funding partners on finding a remote alternative to on-site valuations. This is a not a straightforward measure for the industry to adopt instantly, but we are very confident that we will be delivering some positive news on this front next week.
more2life and Key Group, as part of the Equity Release Council board, AMI and UK Finance boards, have been actively engaged working through a new set of solicitors processes that will be acceptable to our older consumers, whilst still meeting the requirements established in law for a witnessed signature to a mortgage deed. Again, these are not easy problems to solve but we are seeing very positive signs of solutions developing due to the close collaboration across the industry.
Operationally, more2life is still fully functioning with most of our staff working from home, providing a ‘business as usual’ service. Listen to Paul Glynn, more2life’s sales director, as he describes how the adviser support staff and BDMs have adjusted to providing a first-class remote service to advisers.