more2life to recommence physical valuations
For the foreseeable future, two valuation processes will be in operation, and we wanted to set out how this will work and what this means for you and your clients.
We are working closely with our partners at e.surv on how physical valuations will resume, and we will agree the priority order for the pipeline of cases that could not proceed with a remote valuation. We should complete this work within the next 24 hours.
more2life cases are going to be prioritised with e.surv and we intend to be the first lifetime mortgage lender to resume physical valuations with them.
We will be sending you a further update later this week to confirm the process, when the first physical valuations will commence and the appropriate risk assessments and safety measures that e.surv valuers will conduct prior to carrying out a visit to your client’s home. Customer safety and that of the valuer are paramount.
Not all customers will be eligible for physical valuations, including those who are clinically vulnerable, clients with properties in Scotland and Wales (due to different lockdown rules in operation), and those who don't wish to have a valuer visit their home.
They will, however, be able to proceed with remote valuations. All retentions and plan/criteria/process modifications made to allow remote valuations will still apply to customers wishing or needing to have a remote valuation.
We continue to work with e.surv to further innovate and enhance the remote valuation process to help widen the criteria and property types that can be included. We have already issued over 1500 remote valuations and released more than £50m in offers on properties so far, with almost £5m of completed loans that have gone through our remote process.
more2life and e.surv – leading this industry back to business
We are delighted to bring you this news and that, in conjunction with our valuation partner e.surv, we are once again leading the market in helping this market move back to some sense of normality. This is good news for customers and for advisory firms looking to accelerate their businesses back into top gear.
I would also like to personally thank you again for your patience, and for maintaining your support during these difficult times, and we will continue to keep you updated on any further developments. If you have any questions, please do not hesitate to get in touch.
Director of Operations & Change