Aspen Bridging partners with VAS Panel
Aspen Bridging has extended its partnership with VAS Audit to incorporate comprehensive valuation panel management service, VAS Panel.
Asepn will use VAS Panel to ensure the most relevant third-party valuers are instructed to provide loan security valuations based on location, deal type and value.
VAS Panel will also 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.
Jack Coombs, 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 get 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.”
This follows utilising VAS Audit on all personal and business loan applications since its inception in 2016, specialist short-term finance provider.
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.
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.
The company recently signed an exclusive agreement with proptech comparable and mapping company, edozo which marks the start of a joint mission to guarantee strong commercial property valuation standards throughout the UK.
Asepn offers loan-to-value (LTV) products up to 80% for residential, refurbishment and commercial applications across England and Wales.