VAS Group hits triple century with Assetz Capital
VAS Group has assisted a triple century of valuations for peer-to-peer lender with Assetz Capital having completed its 300th report in the last 12 months at a combined total market value of £200m.
The lender, which funds projects such as commercial properties and housing developments, primarily utilised VAS Panel’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.
All reports are then checked by an internal quality assurance process before being returned to the client, a unique market offering helping to reduce property specific lending risks and ensure all valuations maintain a high standard of reporting.
Assetz Capital also uses VAS Software, a cloud-based valuation panel management framework system which allows them to manage their own valuation panel for selected lending applications.
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 are a wonderful client and it is a privilege to handle their valuation requirements,” added Stephen Todd, co-founder and managing director of VAS Group. “They truly understand the benefits of VAS Panel and VAS Software, allowing them to make crucial lending decisions based on reports they trust.”
Gina May, co-founder and director of operations at VAS Group concluded, “We have a great relationship with Assetz Capital, working closely with their operations team and BDM’s nationwide on valuations and any additional reporting requirements. We look forward to supporting the business and their future growth.”
