Arbuthnot Specialist Finance makes moves to reduce turnaround times
Arbuthnot Specialist Finance is looking to reduce costs and turnaround times for clients by deploying an Automated Valuation Model (AVM), desktop valuations and offering joint legal representation.
Criteria for an AVM will be up to a loan-to- value (LTV) of 50% where the LTV is over 50% – and a more comprehensive valuation is required – desktop valuations will also be introduced.
Yasin Patel, joint managing director of Arbuthnot Specialist Finance, said: “Introducing AVM and desktop valuations demonstrates how we’re investing in the right technology to deliver for our clients.
“It also allows us to prioritise the safety of our colleagues, brokers and clients as we start to consider how we’ll operate in a world of social distancing.
“We’ll use AVM with an LTV of up to 50% but above that, we acknowledge the need for expertise and will start to use desktop valuations so we’re still able to benefit from the expertise of surveyors.”
ASFL is also offering joint legal representation. Joint legal representation allows one lawyer to act on behalf of both the lender and borrower.
Patel added: “Joint legal representation makes things simple for clients. Dealing with property finance facility agreements is a specialist legal discipline. Joint representation makes the negotiation, documentation and drawdown process more simple and can save the client both time and money.
“We are investing in the right technology and business processes to improve client experience. The world we are operating in is changing drastically and we are future-proofing the business to enable us to deliver today and tomorrow.”