ScotLend has completed a £2.4m refinance on a 24-property residential portfolio in Kent using automated valuation models (AVMs) only, with the transaction completed within three weeks.
The refinance was arranged to clear a pressing HMRC tax liability. The deal involved multiple assets and layered ownership structures, yet was delivered without full valuations and against Open Market Value, enabled by ScotLend’s recent increase in its AVM lending threshold.
David Travers (pictured), director at ScotLend, said: “This was exactly the type of case we’re built for, multiple units, real time pressure, and no room for delays.
“We underwrote the deal at pace, structured it properly, and used AVMs to avoid unnecessary bottlenecks.”
The case marks one of the first since ScotLend increased its AVM threshold to 75% LTV on residential properties, supported by a new £20m funding line from Shawbrook.
“The increased AVM limit gave us the flexibility to move quickly without compromising the quality of the deal,” Travers added.
“We’re seeing more brokers bring cases like this and we now have more headroom to get them done.”
