Central Trust enhances AVM policy
Central Trust, the first and second charge lender, has today introduced the use of Automated Valuation Model (AVM) technology to its Consumer Buy-to-let (CBTL), Let to Buy and Family Let ranges.
AVMs are now available within these ranges up to £100,000 and a maximum loan to value (LTV) of 75%, subject to confidence score and criteria.
Unlike the majority of specialist lenders which allow the use of AVMs, they are available with Central Trust in England, Scotland, Wales and Northern Ireland.
Central Trust stresses that the broker controls when the AVM is run so they know very early on in the process if a traditional valuation is needed, thus keeping the process as efficient as possible.
Maeve Ward, commercial operations director at Central Trust, commented: “Central Trust is always looking at ways to ensure that we provide the best service possible to a wide range of borrowers, regardless of their diverse requirements.
“The use of AVMs means a greater number of cases within our CBTL, Family Let and Let to Buy ranges should progress more quickly than ever.
“Central Trust continues to help the underserved, as well as those that need to repair and rebuild, and those who have been victim of circumstance and require a second chance, and can now ensure their cases can proceed as quickly as possible, at a time when the rest of the market is seeing cases take longer than before.”