Castle Trust Bank has introduced automated valuation models (AVMs) for eligible BTL applications.
The use of AVMs will be available on standard residential properties, including houses and single flats, with a property value of up to £750,000 and a maximum LTV of 65%.
The aim is that by removing the need for a physical valuation on qualifying applications, this will reduce delays, streamline the customer journey and support faster decision-making for landlords and property investors.
“Brokers need lenders that help them turn opportunities into positive outcomes for their clients and the introduction of AVMs on eligible BTL cases is another practical enhancement that enables us to do exactly that,” said Anna Lewis, commercial director at Castle Trust Bank (pictured above).
“By reducing reliance on physical valuations where appropriate, we're able to deliver a quicker, more efficient application journey, helping landlords and property investors access funding faster and with greater certainty.
“It's part of our ongoing commitment to removing friction from the lending process and providing brokers with the tools, service and solutions they need to support their clients' goals.”
