Shawbrook Bank starts accepting AVMs for high value properties

Shawbrook has widened the criteria for its digital valuation service.

The maximum property in its AVM criteria has increased to £2m in London and the South East and £1m elsewhere in England, Scotland and Wales.

Previously, properties up to £600,000 could qualify for an automatic valuation.

Gavin Seaholme, head of sales at Shawbrook’s Property Finance division, said: “We’re doing all we can to support brokers and their clients right now. With increasing demand in the market ahead of the stamp duty holiday deadline, it’s important that lenders make the customer journey as efficient as possible.

“Removing the need for physical valuations is an effective way of speeding up the process, so we’re delighted we can do this for even more customers”