"By the end of next week, we anticipate being live with at least 14 lenders from all sectors."
e.surv originally launched the Remote Valuation solution in 2017, bridging the gap between automated valuation models (AVMs) and physical valuations.
In accordance with the government guidance on social distancing and non-essential travel, e.surv ceased all physical valuations in March.
With physical valuations on hold, e.surv says it has consulted with lenders to agree a tailored solution, allowing many previously suspended applications to move forward to completion.
Richard Sexton, director at e.surv, commented: “Our tailored solution ensures the safety of our employees and customers, while upholding the excellent standard of service that is expected of us. Since the start of the Covid-19 crisis, we have worked closely with lenders to agree an accurate and safe alternative to physical valuation and we are continuing to improve our offering. We completed thousands of Remote Valuation cases last year and we expect to see an uplift in demand in 2020. By the end of next week, we anticipate being live with at least 14 lenders from all sectors.
“Thanks to the sophistication of our pre-existing remote valuation solution and the significant investment we have made in the latest technology, we have been able to respond quickly to the crisis. Colleagues throughout the business continue to work hard in challenging circumstances, to support lender requirements. Our management team is extremely proud of these colleagues and our considered response to this crisis. With some lenders suspending use of AVMs, we anticipate a growth in demand for Remote Valuations in the coming weeks and months.”
