VAS Panel has expanded its list of valuation specialisms by 135% to help fine-tune selection from its valuation firms database to meet every lending application, no matter how unique.
The move, which follows consultation with lenders, brokers and valuers raises the number of categories to 47, up from 20, and includes everything from airports to vineyards and advertising hoardings to tourist attractions alongside the standard classifications.
In addition, in light of the increased activity in the HMO sector, the business has created two options with (HMO) Small covering up to six tenants and (HMO) Large for seven tenants or more.
The business sees the move as having a particular benefit for brokers who now have the means to get the right advice for assets and geographical areas they may not have come across before.
VAS Panel is an award-winning full valuation panel management service comprising over 200 firms, including independent practices, regional firms, national and international consultancies, which ensures users can instruct the most relevant companies based on location, deal type and value.
Andrew Murdoch, Valuation Panel Director at VAS Panel, part of the VAS Valuation Group, said: “We constantly assess our panel management system to look for improvements, and an augmentation in categories very much follows the ever increasing scope of the specialist finance market.
“In particular, being able to utilise the property specialisms from our national database of valuation firms and being able to be more specific with our HMO valuations will really support our lender clients and their brokers partners.”
