Accord Mortgages offers advice to speed the valuation slowdown

Jessica Nangle

October 10, 2017

Accord Mortgages has offered brokers advice on how they can take steps to reduce delays to house sales caused by traditional hold-ups in property valuations.

Across the market brokers have experienced a longer turnaround time due to a high demand for property valuations which has impacted valuers’ availability.

Accord told brokers to ensure clients who are moving home or remortgaging provide as many contact details as possible, such as phone numbers and email addresses.

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Accord also recommended checking a client’s contact details are correct when submitting an application and suggesting that your client makes alternative arrangements if they are unable to let the valuer review their home during standard working hours.

David Robinson, national intermediary sales manager at Accord, said: “There are no hard and fast rules on how long a property valuation or survey takes to complete.

“There have been some incidents of valuations taking longer than usually expected over the last month, which is understandably frustrating for brokers and their clients.

“This is typical at this time of the year, with home movers jetting off on their holidays leaving valuers unable to access a property.”

“To help with the current slowdown and ahead of the festive season, by encouraging clients to follow our suggested steps brokers could help to reduce any potential delays.”

Accord now uses an automated valuation model (AVM) which gives instant property assessments without the need for a valuer to visit the property to ease the risk of bottlenecks.

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