Case Studies

Landbay’s AVM supports a swift and seamless remortgage

22 January 2024

Nick Joelson

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AVM model helps to underwrite a remortgage case in less than two hours.

Property type: Standard
Location: London
Product: Standard AVM 5-Year Fixed 70% LTV

Challenge

This case saw a broker seeking a remortgage for a single-family let property belonging to an existing customer. The broker and landlord client needed a very swift turnaround. Any delays would have been detrimental to their timings.

Solution

The case’s success hinged on a synergistic approach combining case cloning (from their previous cases), a streamlined DIP/application process and instant valuation via AVM. This blend allowed the entire case to be underwritten in less than two working hours after receiving the full mortgage application.

Outcome

The case was underwritten within two hours, and an offer was made within 24 hours after the DIP submission.  

The broker experienced no additional demands for information or documentation, and the applicant benefited from lower application costs due to the AVM, making the entire remortgage process cost-effective and extremely efficient.  

Visit our AVM product range here.

The service from Landbay was superb and they seem to go the extra mile by thinking outside the box. For example, they have excepted a retype of a valuation from a previous lender who originally declined. This has saved time and money for the client.