OneSavings signs valuation deal with EDM
EDM Commercial VEX enables lenders to distribute work to and receive work from qualified surveyors.
Based on a single, centralised platform that allows commercial surveying businesses to communicate efficiently with their surveyor panels and allocate valuations to the most appropriate surveyor, EDM Commercial VEX has established a process that clearly demonstrates that the surveyor allocated to a valuation has relevant experience and knowledge.
The product provides a fully transparent, centralised platform for all stakeholders in the commercial valuation chain and cuts down the time and administration required to fulfil successful transactions.
OneSavings Bank operates through a number of market-leading brands: Kent Reliance, InterBay Commercial, Prestige Finance and Heritable Development Finance.
Neil Richardson, group real estate director at OneSavings Bank, said: “The success of our commercial lending business relies on making the right decisions, with accurate and timely information from third parties.
“Now with the commercial valuation process available on a single platform our team can gain an instant insight into activity or any individual case. Having the whole valuation process under one end-to-end system also means we can make better use of the data we produce, whilst maintaining security.”
Ian Shaw, business development director at EDM Mortgage Support Services, added: “Working closely with OneSavings Bank, our platform gives them the oversight of the whole commercial valuations process and full control of who is doing what.
“It’s a one stop shop for end-to-end commercial valuation risk and process management and complements our well-established residential valuation exchange platform used extensively by lenders across the UK.”