"By utilising the speed of automation, we’re eliminating the delays that can slow down some traditional standard valuations, empowering brokers to make decisions faster and give their clients improved access to timely offers."
- Andrew Ferguson, head of buy-to-let at West One
West One Loans has introduced automated valuation models (AVMs) across its buy-to-let range to speed up completion times for brokers and their clients.
The enhancement sits alongside a 45 basis point cut in rates for its buy-to-let products, with rates now starting at 2.29%.
The specialist lender’s new AVM will streamline the application process by using data from recent sales, property features, and market trends to generate property values.
This not only speeds up the assessment process but can also allow applications to be completed faster than when relying on traditional methods. Additionally, in principle offers can be made within 24 hours of receiving a decision.
Available today on West One’s standard limited edition W1 product, AVMs are applicable on loans up to 65% LTV, with a maximum loan size of £500,000 and zero valuation fees. The new offering excludes HMOs, MUBs, flats, and new builds.
Andrew Ferguson, head of buy-to-let at West One, commented: "At West One, we know that in a fast-moving market, efficiency is essential. That’s why we’ve introduced AVMs to our buy-to-let offering.
“By utilising the speed of automation, we’re eliminating the delays that can slow down some traditional standard valuations, empowering brokers to make decisions faster and give their clients improved access to timely offers. Combined with our recent rate cut of up to 45bps, this advancement underscores our commitment to market leadership in efficiency and value. By accelerating the assessment process, we’re giving brokers the confidence to close deals faster and with the rate reduction, at a better price.”
