The lender’s property risk partner and main valuation panel manager, e.surv, has begun to contact agents or vendors for all current pipeline cases where a valuation has been placed on hold awaiting a physical inspection.
Physical valuations have resumed on properties in England on new build, self-build and owner-occupied homes, only where strict social distancing and safety measures can be met.
John Truswell, head of intermediary mortgages at Newcastle Building Society, said:
“We’re pleased to announce the reintroduction of instructing valuations following the most recent Government recommendations. The safety of valuers and inhabitants is paramount, so we will ensure that we continue to observe social distancing, and maintain a cautious and responsible approach.
“We’re working on the basis of clearing the pipeline first, so the oldest instructions will be prioritised to ensure a fair approach to our customers. Where physical valuations remain restricted, we’ll work to help our customers and will aim to carry out remote valuations where possible.”
