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Reduced costs and quicker offer times with our new AVMs 

23 January 2024

Nick Joelson

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We’ve taken a big step forward for buy-to-let mortgages. We’re the first dedicated buy-to-let lender to use Automated Valuation Models (AVMs) for quicker offer times.

Our new five-year fixed-rate products now use AVMs for properties worth up to £750,000 at 70% loan-to-value (LTV). Interest rates begin at 4.29%, and we’ve set up a flexible fee structure for added affordability.  

AVMs mix mathematics and detailed property data to determine how much properties and rents are worth. The reports draw from various data sources, such as past sales records, the property’s assessed value for tax purposes, its fundamental attributes, and the selling price of comparable properties. This information feeds into a mathematical model that generates an estimated value of the property. 

Our tests show that AVMs make the offer process, on average, three times faster than usual. Sometimes, we can make an offer within one day after the initial decision in principle. 

Using AVMs also cuts down costs. Our applicants save around £500 because they don’t have to pay for property valuations. One landlord saved about £4,000 on their property collection during our trial. 

“We know that timing is everything,” says our Sales and Distribution Director, Rob Stanton. “Brokers work fast to help their clients, and we’re doing the same to keep deals moving. We’re proud to lead the way in faster, better buy-to-let lending with AVMs.” 

We’re here to ensure you have what you need to support your clients effectively and efficiently. With our AVMs, your customers can save time and money with rapid offers and reduced costs. 

Visit our AVM products here