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Lenders resume physical valuations in England

Mortgage lenders are resuming physical valuations in England following a loosening of lockdown restrictions.

Paragon and Bank of Ireland UK have restarted physical valuations, while Virgin Money and Clydesdale Bank will follow suit next week.

Aldermore Bank restarted valuations for residential applications this week – physical valuations for buy-to-let are set to happen again shortly.

Jon Cooper, head of mortgage distribution, Aldermore, said: “We are keen to help the many customers in the UK looking to get going on their home buying and selling plans, but we must be cautious and responsible in how we open up.

“The new government guidance is encouraging in allowing the housing market to get moving again, and ensuring safety is a priority will help build confidence in the long term.”

Remote valuations are continuing in Scotland and Wales until social distancing restrictions have been eased.