E.surv extends remote valuation capabilities

Jessica Bird

April 14, 2020

undervalue homes

Chartered surveyor e.surv has consulted with lenders to further develop its pre-existing alternative to physical valuations.

The move to increase the deployment of e.surv’s remote valuation process has been made as part of an ongoing strategy to support the market through the COVID-19 crisis, during which physical valuations are on hold.

The remote valuation solution combines risk assessments with third party data and local knowledge from surveyors.

Not all cases are suitable for this method of valuation, but e.surv has reported that by making use of rules it has developed with lenders, it has managed to move many previously suspended applications forward.

Richard Sexton, director at e.surv, said: “Our tailored solution ensures the safety of our employees and customers, while upholding the excellent standard of service that is expected of us.

“Since the start of the COVID-19 crisis, we have worked closely with lenders to agree an accurate and safe alternative to physical valuation and we are continuing to improve our offering.

“We completed thousands of remote valuation cases last year and we expect to see an uplift in demand in 2020.

“By the end of next week, we anticipate being live with at least 14 lenders from all sectors.

“Thanks to the sophistication of our pre-existing remote valuation solution and the significant investment we have made in the latest technology, we have been able to respond quickly to the crisis.

“Colleagues throughout the business continue to work hard in challenging circumstances, to support lender requirements.

“Our management team is extremely proud of these colleagues and our considered response to this crisis.

“With some lenders suspending use of [automated valuation models], we anticipate a growth in demand for remote valuations in the coming weeks and months.”

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