"By reducing reliance on physical valuations where appropriate, we're able to deliver a quicker, more efficient application journey."
- Anna Lewis - Castle Trust Bank
Castle Trust Bank has introduced automated valuation models (AVMs) on eligible cases, designed to update its buy-to-let proposition and help speed up applications for brokers and their clients.
The use of AVMs will be available on standard residential properties, including houses and single flats, with a property value of up to £750,000 and a maximum loan-to-value (LTV) of 65%.
By removing the need for a physical valuation on qualifying applications, the new process is designed to reduce delays, streamline the customer journey, and support faster decision-making for landlords and property investors.
The update follows a series of recent changes to Castle Trust Bank’s lending proposition, including the launch of its new website and upgraded PULSE application platform.
Anna Lewis, commercial director at Castle Trust Bank, said: "Brokers need lenders that help them turn opportunities into positive outcomes for their clients, and the introduction of AVMs on eligible buy-to-let cases is another practical enhancement that enables us to do exactly that.
"By reducing reliance on physical valuations where appropriate, we're able to deliver a quicker, more efficient application journey, helping landlords and property investors access funding faster and with greater certainty.
"It's part of our ongoing commitment to removing friction from the lending process and providing brokers with the tools, service and solutions they need to support their clients' goals."
