VAS Panel is celebrating a landmark achievement having secured Masthaven Bank as its 50th lender client in a little over one year.
Under the terms of the latest agreement, the comprehensive VAS Panel database will be used on all commercial loan security valuations to ensure the most relevant third-party RICS-qualified surveyors are instructed based on location, deal type and value.
As part of the service every single valuation will then go through a strict quality control check by an experienced professional before being returned to the client, providing an extra layer of security to help the client make informed decisions on property specific lending risks
The business, established at the end of 2017, has become firmly established as the UK’s most comprehensive valuation panel management service with clients including Together, Aspen Bridging and Assetz Capital.
Stephen Todd, co-founder and managing director of VAS Group, said: “To enter the latest partnership agreement with our 50th lender in just over one year of operations is an amazing achievement, and verification of our first-class database, strict quality standards and our dedicated, knowledgeable team.
“Within this time it is interesting to watch how the balance of work has altered, with term product valuations starting to take a larger percentage of the business against our traditional short-term finance instructions. We will continue to adapt to meet the needs of all our clients.”
Credit and operations director, Alan Margolis said: “We are delighted to be using VAS for our commercial property product valuations. Our aim is for our brokers and customers to receive the same smooth underwriting experience for commercial property loans as they currently receive for our other bridging loan products.”
VAS Panel is part of VAS Group. The business also incorporates VAS Audit, which provides live and retrospective auditing to reduce property specific lending risks and VAS Software, a cloud-based valuation panel management framework system which allows lenders to better manage their own panels.