"We believe this is a good solution to the challenge of surveyors not being able to access properties physically and it should allow the property market to continue to operate in some form"
These cases will still require a physical valuation at a later date, but the Society says the move will allow cases to proceed to offer stage where an initial satisfactory valuation report is received.
Self-build and renovation cases will still require a physical valuation.
The Building Society, which has branches in Swansea, Mumbles, Carmarthen and Cowbridge, said that it hopes the new procedure will allow the property market to continue ticking over despite the crisis.
Alun Williams, chief executive of Swansea Building Society, said: “In these unprecedented times, we are constantly seeking new solutions to some of the difficulties our customers face. We believe this is a good solution to the challenge of surveyors not being able to access properties physically and it should allow the property market to continue to operate in some form despite the lockdown in the UK.”
