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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.”


Citizens Advice champions Governments financial capability strategy

The Citizens Advice Bureau says the governments financial capability strategy could have a massive impact on UK consumers’ ability to tackle debt.Teresa Perchard, policy director of Citizens Advice, says: There is a significant need to help thousands of people make the most of their money, both now and in the future. “This a real chance […]

Osborne blames Brown for inflation soaring

The Conservative shadow chancellor George Osborne has pointed the finger of blame at Gordon Brown as inflation in Britain soars to a new 11 year high.He says with the rising cost of living taking its toll on working families, it is not surprising that the chancellor wanted to escape the Treasury“before his chickens come home […]

I support the FSA’s willingness to act

In his speech at the Council of Mortgage Lenders annual conference Dan Waters, director of retail policy division for the Financial Service Authority, commented on the effectiveness of the Mortgage Conduct of Business rules so far.

BDS to double in size this year

BDS Mortgage Group signed up more than 100 appointed representatives in the past year. It has set itself a target of doubling in sizein 2007.


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