EXCLUSIVE: VAS Panel and Redwood Bank hit £100m in term valuations

Michael Lloyd

July 29, 2019

VAS Panel has completed over £100m worth of valuations, in just eight months, for the term mortgage business of challenger bank Redwood Bank.

Redwood is a business bank which provides individually assessed mortgages for business owners and professional landlords.

It utilises VAS’s valuation panel management service to ensure the most relevant third-party valuers are instructed to provide loan security valuations based on location, deal type and value.

Gary Wilkinson, chief executive and co-founder of Redwood Bank, said “We have thoroughly enjoyed working alongside VAS and appreciate the hard work that they do to support us here at Redwood.

“Its excellent panel valuation service allows property specific valuation matters and lending risks to be clearly identified, and at an early stage as possible, therefore greatly benefiting both ourselves and our customers.”

Stephen Todd, (pictured), co-founder and managing director of VAS Group, added: “It has been a pleasure to work alongside Redwood Bank to support all their valuation needs.

“Whilst we have primarily made our name in the short-term finance sector, we are increasingly working in the term space with lenders who can see the tangible benefits of our systems and procedures.”

VAS Panel is part of the VAS Group which incorporates VAS Software, a cloud-based valuation panel management framework system and Vas Audit.

Vas Software allows lenders to better manage their own existing panels while VAS Audit provides live and retrospective auditing to reduce property specific lending risks.

Gina May, co-founder and director of operations of VAS Group, said: “We pride ourselves on the quality of our valuation panel and maintaining high reporting standards, which is realised through strict processes, due diligence and exacting compliance.

“This allows our lender partners to do what they do best, supply an exceptional primary customer experience.”

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