As COVID-19 continues to hamper economic activity, LendInvest, a platform for property finance, will now offer desktop valuations for its short-term loan products where physical valuations are not possible. The new feature is a natural step in the digitization of financial services. Desktop valuations will now be available for borrowers seeking Residential Bridging and Auction products on loan sizes up to £250,000 with a maximum LTV of 65% on the LendInvest platform.
The Fintech added that these valuations will be available for properties in England, Wales, and Scotland up to a value of £1 million.
LendInvest is working with Connells to ascertain the valuation.
Justin Trowse, Director for Bridging at LendInvest, commented on the new feature:
“As we continue to operate through unpredictable times, it is imperative to be prepared for any sudden changes to the way we are able to work. While at this time physical valuations are permitted to go ahead, we realise we must be equipped for any eventuality should that change in the future. Adding the capability to utilise desktop valuations for more of our product suite allows us to stay one step ahead, and ensure we can deliver the finance our borrowers need with the same speed and flexibility we always have.“