United Trust Bank (UTB) has announced the successful integration of Hometrack automated valuation model (AVM) searches from within its bridging broker portal.
The service will be available for the bank’s new fast-track and standard bridging applications.
UTB said the service enhancement will enable brokers submitting enquiries and Decisions in Principle (DiPs) through the bridging broker portal to carry out a Hometrack AVM search 24 hours a day, and to obtain an instant pass or fail indication as well as an accurate valuation at the point of submitting the enquiry to the lender.
The bank described the enhancement as an “industry first”, with no other bridging lenders currently offering AVM integration within online portals.
UTB director – bridging, Gavin Diamond, commented: “We are constantly looking for ways to make bridging applications simpler, quicker and to give as much certainty as possible from early in the process.
“By integrating Hometrack AVM searches within UTB’s Bridging broker portal brokers can very quickly see if the property valuation is going to support the application they’re making, enabling them to proceed quickly or rethink their options.
“We believe that this latest enhancement, especially when combined with our Fast-Track service, provides an unbeatably quick application, decision and completion process with offers made within 24 hours and funds available to draw just a few days later.”
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