more2life has announced it has become the first volume lender to introduce semi-automated valuations across the majority of its product lines.

The equity release lender revealed the introduction followed significant work with its funders, using the support of e.surv’s desktop, data-rich approach.

more2life indicated all products will be valuation fee free but to facilitate lending during the ongoing situation with coronavirus, as well as provide added consumer protections, the lender revealed additional temporary lending criteria have been introduced on some products.

While this varies by product, more2life added that this may mean restrictions on properties with flat roofs, or with none standard construction, as they can be harder to value. Advisers with any queries have been urged to contact the more2life support teams.

more2life CEO, Dave Harris, commented: “Having been monitoring the coronavirus situation carefully, it soon became clear that face-to-face valuations would simply not work in the world of social distancing and self-isolation.

“To help clients who are relying on the proceeds of equity release and support their advisers, we have been working closely with our funders to see how we can meet this challenge.

“We are therefore delighted to be in a position to announce that we are now the first volume lender to be able to offer semi-automated valuations across the majority of its product range.  This is a hugely positive step for the industry and clearly illustrates that by working together, we can continue to serve our customers even in these exceptional circumstances.”

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