In brief

Ramesh Sharma

June 1, 2004

Coventry Building Society has revamped its website to offer a new range of online services and facilities, exclusively for mortgage intermediaries.

The site includes a secure area providing a credit-scored AIP for the client, with the ability to complete KFIs and mortgage applications via the site. Further updates include a tracker service so proc fees and ‘up to the minute’ client information can be gathered.

UKValuation warns on automated valuation market

Graeme Winser, chief executive officer at UKValuation, has revealed the automated valuation market (AVM) is growing in importance, but has warned against market complacency.

He said: “AVM should not be read as a signal for the market to down tools, light a cigar and rest comfortably in the knowledge that AVMs are essentially equivalent to an internal inspection, as some commentators have suggested. They do not infer this at all.”

Mortgages Direct research reveals buy-to-let growth

Research from Mortgages Direct has revealed buy-to-let investors are returning to the market with a 50 per cent increase from April. They now make up 12 per cent of all those seeking mortgages from Mortgage Direct.

The monthly index also reported first-time buyers continue to show reluctance to enter the market, with the number seeking mortgages decreasing by 6 per cent in September.

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