e.surv has launched a remote valuation product for new build properties. This approach employs the data and insight accumulated from the company’s new build database to identify sites suitable for remote valuations swiftly.
This data-led methodology not only enhances the speed of valuations, averaging four days less than a physical valuation but also offers cost advantages and reduces carbon emissions by diminishing the need for on-site visits.
Mark Goodfellow, product lead at e.surv, said: “On receipt of the first valuation instruction to a new development, our surveyor will visit the site, gather information, and assess its suitability for remote valuation.
“Once this information is peer reviewed by our specialist new build team, an automated data-driven triage process is deployed for subsequent inspections.”
The service’s flexibility allows it to cater to each lender’s individual risk appetite. “We digitally collect information such as the UK Finance Disclosure Form, site, and floor plans from developers,” added Goodfellow. “A local surveyor will carry out the remote valuation upon receipt of the requested documents, which are then automatically formatted into the lender’s mortgage valuation report.”
The Remote Valuation for new build product is currently being utilised by several high-street lenders, reflecting the market’s shift towards more digital and data-driven solutions.
