Monmouthshire Building Society has announced the appointment of VAS Panel.

The Newport-based society will utilise the valuation panel management system for selected loan security applications with immediate effect.

Monmouthshire provides mortgage and savings products for households and businesses throughout Wales and South-West England. The firm will use the VAS Panel service to ensure the most relevant third-party RICS-qualified surveyors are instructed based on location, deal type and value.

VAS Panel will also provide detailed monthly reports attaining to service level agreements, to allow both firms to continually monitor performance and look for any areas of improvement.

Head of commercial lending at Monmouthshire Building Society, Alex Higgins, commented: “We will look to use the VAS Panel service where there is an element to the application which is considered complex, or slightly out of the ordinary, which ultimately requires an extra level of valuation knowledge.

“We are looking forward to working with VAS to ensure our members and customers have a great experience with us.”

VAS Panel managing director, Graham Moore, added: “Monmouthshire Building Society are one of the most people-focused, creative, ambitious mutuals in the UK and it is a real statement of intent from both companies to commence the relationship.

“Our aim, as it is with every client, is to make the valuations process as quick, thorough and seamless as possible so not only does the customer complete their deal in the fastest possible time, but the lender also knows every element has been considered to protect their interests.”

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