Falcon Group selects VAS Group for bridging valuations
Falcon Bridging Finance, the bridging finance division of specialist financier Falcon Group, has selected VAS Group to undertake its valuation services.
Under the terms of the partnership, VAS Panel will provide a full valuation management service which takes into account location, deal type and value to provide accurate recommendations.
In addition, VAS Audit will provide live auditing to reduce property specific lending risks and ensure the maintenance of high standards.
Paul Brooks, head of receivables and asset backed finance at Falcon Group, said: “With over 25 years’ of expertise in the specialist financing industry, it is vital that Falcon maintains its high standard of service.
“We believe that VAS Group reflects our own principles, and through their Panel and Audit divisions, will enable us to reduce completion times and concentrate on the exact needs of our clients while minimising potential lending risks.
“Indeed, these are factors that become ever more important when it comes to large-scale, short-term finance such as bridging.”
Falcon Group, which provides an alternative source of funding for mid to large-cap corporates, is focusing on bridging finance deals between £2-£10m with applications currently welcomed from across England and Wales.
Stephen Todd, co-founder and managing director of VAS Group, said: “The work with Falcon Group is a true statement of intent. It clearly demonstrates that a global finance giant understands the benefits of our suite of valuation services for their in-house processes and customers.”
VAS Group, which incorporates VAS Panel and VAS Audit, also includes VAS Software, a cloud-based valuation panel management system which allows lenders to build and manage their own bespoke valuation panels.