"This will be a game changer in the market, enabling us to deliver very fast timescales for even more projects with up to 75% LTV now being available."
- Laura Carr, head of underwriting at Hope Capital
Hope Capital has partnered with DeskVal to launch a new instant automated system which accepts up to 75% LTV on property valuations up to £750,000.
Having previously offered AVMs up to 70% LTV, DeskVal gives borrowers access to quicker turnarounds and cost-saving options across all property types.
The new valuation offering, which supplies an automated GDV based on the condition of the property and the scale of works, provides borrowers with greater confidence in their loan completion, with the valuation being made available from day one.
The instant valuation method complements the lender's existing offering including desktop valuations which are delivered within 48 hours, with up to 75% LTV available on property values up to £1m and up to 65% LTV on property values up to £2m. Hope Capital also provides full valuations, which are typically delivered within 5-7 days for cases which require further investigation and fall outside of its AVM and desktop criteria.
Hope Capital’s instant valuations can be combined with the lenders recent improvements to its dual representation offering, which is now available across residential, semi-commercial and commercial property.
Laura Carr, head of underwriting at Hope Capital, said: “It is fantastic to join forces with DeskVal and significantly increase our valuation offering to benefit our borrowers. Thanks to DeskVal’s pioneering technology, this will be a game changer in the market, enabling us to deliver very fast timescales for even more projects with up to 75% LTV now being available. A fantastic additional benefit is DeskVal is also done at no cost to the borrower!”
Sabina Thorpe, chief marketing officer and co-owner of DeskVal, added: “It’s brilliant to partner with Hope Capital to launch and benefit from our PI-backed instant valuation product. When it comes to lending, speed and accuracy are crucial. Our data-driven AVM delivers on both. DeskVal also saves time and money by bringing all relevant comparables together on a single screen, providing instant, accurate valuations with PI for residential, HMO, multi-unit blocks, commercial, and semi-commercial properties.”
