The announcement follows a previous £6m annual investment announced just 20 months ago and demonstrates Connells’ major commitment to the mortgage lending and property sectors.
The timing of the investment is important; it runs in parallel with the housing market continuing to strengthen alongside Connells’ increasing market share as clients seek to secure certainty of customer service quality with their end to end business models.
Commenting on the news, Ross Bowen Managing Director at Connells Survey & Valuation says:
“We are acutely aware that our clients need to have robust valuation service arrangements to rely upon. This investment will result in extending our surveying team by a further 50 dedicated Surveyors, directly benefitting our clients as they seek to deliver their own growth plans in an increasingly competitive marketplace.”
Recently, there has been renewed concern about a shortage of residential Chartered Surveyors, especially in busier areas such as the South East of the country, resulting in delays with valuations and surveys being undertaken. Rather than just focus on increasing the Chartered Surveying capacity to tackle this and streamline servicing times, part of Connells’ investment will also focus on driving further advances in performance quality through an enlarged Chartered Surveying management team working more closely with all our Surveyors, introducing new risk management technology solutions and providing more specialist support staff.
“I am a staunch advocate that quality comes first and, with rising market transaction levels, it is even more imperative that we retain our control over risk management and delivering superior service quality,” Bowen continues. “Higher consumer confidence, the improving domestic economy and political stability following the General Election result, all point to increasing property transaction and lending levels over the coming years. Connells Survey & Valuation is focussed on ensuring it plays a sustainable role in the sector to support this.”
The West Bromwich Building Society, which has a long standing business relationship with Connells and transferred its staff valuers to Connells in 2000 when it first outsourced its valuation panel management, has welcomed the news:
“We welcome the announcement that Connells is investing further in its valuation services, which form an important part of what we can offer borrowers looking to purchase their own homes,” says Jonathan Westhoff, Chief Executive of the West Brom. “In what is a highly competitive market, it is vital that a lender’s overall quality of service matches the quality of its mortgage products and Connells is a key strategic partner to help us deliver this for our members.”
