Central Trust has added the use of automated valuation model (AVM) technology to its consumer buy-to-let (CBTL), let-to-buy and family let ranges.
The first and second charge lender confirmed that AVMs will now be 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 across England, Scotland, Wales and Northern Ireland.
Central Trust stated that the broker will control when the AVM is run so that they know early in the process if a traditional valuation is needed, to make the process more efficient.
Commercial operations director at Central Trust, Maeve Ward, 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.”
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