VAS Panel and Redwood Bank hit £100m in term valuations

30-Jul-2019

VAS Panel has completed over £100m worth of valuations, in just eight months, for the term mortgage business of award-winning challenger bank, Redwood Bank.

The Bank, which provides individually assessed mortgages for business owners and professional landlords, utilises VAS’s comprehensive 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.

Gary Wilkinson, CEO and co-founder of Redwood Bank said “We have thoroughly enjoyed working alongside VAS and appreciate the hard work that they do to support us here at Redwood. Their excellent panel valuation service allows property specific valuation matters and lending risks to be clearly identified, and at an early stage as possible, therefore greatly benefiting both ourselves and our customers.”

“It has been a pleasure to work alongside Redwood Bank to support all their valuation needs,” added Stephen Todd, co-founder and managing director of VAS Group. “Whilst we have primarily made our name in the short-term finance sector, we are increasingly working in the term space with lenders who can see the tangible benefits of our systems and procedures.”

Gina May, co-founder and director of operations of VAS Group concluded: “We pride ourselves on the quality of our valuation panel and maintaining high reporting standards, which is realised through strict processes, due diligence and exacting compliance. This allows our lender partners to do what they do best, supply an exceptional primary customer experience.”

VAS Panel is part of the VAS Group which incorporates VAS Software, a cloud-based valuation panel management framework system which allows lenders to better manage their own existing panels and VAS Audit, which provides live and retrospective auditing to reduce property specific lending risks.

Redwood is an ambitious business bank, which was developed to offer a real alternative for small and medium sized organisations looking to make sure their properties and cash work harder for them.

The Bank provides individually assessed mortgages for business owners and professional landlords, as well as a range of Best Buy savings accounts, which are offered to businesses, as well as charities, clubs and associations.