"We are really proud to streamline our remortgaging process and make AVMs available for free to residential remortgage customers, where the LTV and loan size allows."
The specialist lender no longer requires an internal valuation inspection on all remortgage applications and will utilise an AVM where appropriate. There are no fees for an AVM, saving the cost of a physical inspection, and there's the benefit to customers of not needing to be present for the valuation.
The rollout of AVMs on residential remortgage applications, where the LTV and loan size allow, will streamline the remortgage process and reduce timelines for many customers. In circumstances where an application does not qualify for an AVM, brokers will still have the choice to instruct a full valuation.
Paul Adams, sales director at Pepper Money, said: “At Pepper Money, we are continually committed to enhancing the service we provide to our brokers as we know this means they can deliver a better experience to their customers. So, we are really proud to streamline our remortgaging process and make AVMs available for free to residential remortgage customers, where the LTV and loan size allows.
“Brokers have a fantastic remortgage opportunity at the moment, and we are doing everything we can to help them make the most of that opportunity. As well as the roll out of AVMs, we have also introduced a cashback incentive that customers can use towards legal fees, providing greater choice from across our solicitor panel for remortgages. We’ve launched more product options and lower rates to enable more brokers to help even more residential remortgage customers.”
