The Valuation Exchange developed by xit2 is able to streamline the valuation instruction process, which can halve the time taken to instruct the valuation. This time saving is sustained throughout the process and offers a tangible benefit to intermediaries who regularly receive pressure from clients on items affecting the speed of the mortgage offer, which are out of their control.
Mandy Cusworth, group mortgage manager of The Portman Group, says: “By linking our panel and staff surveyors through xit2's Valuation Exchange we have a single, efficient system that is designed to speed up the process. This will deliver a tangible benefit to both our intermediaries and surveyors. Real time updates also provide us with better management information and a high level of control over the process. Because of the speed and efficiencies that xit2's suite of panel management tools provide, we have been able to bring the whole panel management process inhouse. This now provides us with total control over this vital business process.”
Paul Duckworth, managing director of xit2, says: “The Portman Group will now be using the latest cutting edge technology to further improve service standards and realise cost savings.
“By simply logging on to the Valuation Exchange via the internet will allow Portman and The Mortgage Works to allocate valuations in a timely and cost-free fashion. One of the most sophisticated time savers is that if a valuation is not accepted by the surveyor within a specified timescale then it is automatically reassigned. The progress of the valuations are shown on the system so that everyone is kept up-to-date and informed.”