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No premiums on AVMs, say brokers

Some 69% of brokers say there should be no premium charge for the use of Automated Valuation Models.

In a survey conducted by BM Solutions, the reactions of over 200 intermediaries to the introduction of AVMs was documented, with two thirds slamming the premium charge on AVMs.

86% of brokers believed that consumers should be given a choice between AVMs, standard lender valuations, Homebuyer reports and full structural surveys

Iain Williamson, head of key accounts at BM Solutions, says: “We realise that offering a choice of valuation allows brokers to best meet the needs of their individual clients.

The results show that intermediaries clearly believe that borrowers should be offered a choice of valuation. At BM Solutions they get the choice as well as the AVM being fairly priced.”

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