VAS Panel completes over £1bn worth of valuations for Allica Bank
VAS Panel has completed over £1bn worth of valuations for Allica Bank in just 16 months, comprising over 1,100 applications and more than 40 different business sectors.
The relationship, which fully commenced in March 2021, has seen the lender use the panel management system for all semi-commercial and commercial property applications all the way through to hotels, healthcare premises, petrol stations, schools, farms, kennels and catteries.
In-line with the agreement, VAS Panel’s service is used on loan security valuations to ensure the most relevant third-party RICS-qualified surveyors are instructed based on location, deal type and value.
To also maintain high reporting standards, the business operates their market-leading quality control processes to ensure Allica Bank has the greatest confidence when making lending decisions, as well as providing detailed monthly reports into all activity.
Allica Bank, a bank built especially to support established SMEs, has seen rapid growth since getting their banking license in September 2019. They provide personal service through relationship banking backed up with modern technology,
Emily Johnson, head of operations at Allica Bank, said “As a relationship-led bank dedicated to helping established SMEs with the finance they need to grow, it’s really important we work with partners we can trust and rely on to help us deliver that service. VAS Panel have ensured we can deliver quick and accurate decisions, and ensure we can help our customers get the commercial mortgages they need.”
Gina May, chief operating officer and co-founder of VAS Valuation Group, added: “Commercial applications are seldom straightforward so it’s imperative that the selected valuer understands the region, sector, and in most cases how equivalent local business are performing.
“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 Allica to do what they do best, supply an exceptional customer experience.”