VAS Group assists 300 valuations for Assetz Capital
VAS Group has assisted 300 valuations for peer-to-peer lender Assetz Capital in the past 12 months at a combined total market value of £200m.
The lender primarily uses VAS’ valuation panel management service to ensure the most relevant third-party valuers are instructed to provide loan security valuations based on location, deal type and value.
Oliver Ward, director of relationship support team at Assetz Capital, said: “In my role I have managed our panel of valuers for over three and a half years, and as this grew I found it increasingly difficult to co-ordinate the due diligence and panel arrangements including SLA’s, global engagement terms and T&C’s on many medium to large valuation firms.
“Two years ago, I made the decision to start working alongside VAS Group to ease this workload and give us access to a wider range of valuers throughout the country.
“We have seen vast improvements in turnaround times and also lower cost and higher quality, this has ultimately delivered quicker drawdown times and happier customers.”
Assetz Capital also uses VAS Software, a cloud-based valuation panel management framework system.
This allows the lender to manage its own valuation panel for selected lending applications.
Stephen Todd, co-founder and managing director of VAS Group, added: “Assetz Capital is a wonderful client and it is a privilege to handle its valuation requirements.
“It truly understands the benefits of VAS Panel and VAS Software, allowing it to make crucial lending decisions based on reports it trust.”
Gina May, co-founder and director of operations at VAS Group, said: “We have a great relationship with Assetz Capital, working closely with their operations team and BDMs nationwide on valuations and any additional reporting requirements.
“We look forward to supporting the business and their future growth.”