Aspen Bridging assigns all valuation services to VAS Group

By Bridging Loan Directory 18th July 2018

Having utilised VAS Audit on all personal and business loan applications since their inception in 2016, specialist short-term finance provider Aspen Bridging has extended its partnership to incorporate comprehensive valuation panel management service, VAS Panel.

Aspen, which offers loan-to-value (LTV) products up to 80% for residential, refurbishment and commercial applications across England and Wales, will utilise VAS Panel to ensure the most relevant third-party valuers are instructed to provide loan security valuations based on location, deal type and value.

In addition VAS Panel will create a bespoke panel of building and quantity surveyors to run alongside the valuation process, this will assist with the lender’s refurbishment products including multiple draw-down loans providing an initial 75% LTV and then up to 100% works costs in arrears.

The relationship started in 2016 when Aspen Bridging appointed VAS Audit, since then every single valuation provided to support a lending application has been thoroughly vetted by a team of experts to reduce property specific lending risks and ensure high standards.

Jack Coombs, pictured, Director at Aspen Bridging, said:

“Our excellent working relationship with VAS continues to ensure that we lend on the right valuations and to appraise reports to guarantee our clients gets a fair deal. This structured approach compliments our underwriters visiting every property and this combination gives us the confidence to work with clients to achieve their aims where more remote lenders may not.”

Gina May, co-founder and director of operations of VAS Group said:

“To bring both Audit and Panel elements together to deliver a full service is a fantastic step for both companies. We will continue to help them grow and develop in a safe, controlled manner in respect of valuations, and ensure their rapid response service continues to deliver on-time.”

VAS Group, which incorporates VAS Panel and VAS Audit, also includes VAS Software, a cloud-based valuation panel management system which allows lenders to effectively build and manage their own bespoke valuation panels.