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Brokers oppose AVM premiums

Some 69% of brokers say there should be no premium charged for the use of automated valuation models.

In a survey by BM Solutions, the reactions of over 200 brokers to AVMs was documented, with two-thirds slamming the premium charge on them. And 86% of brokers believe consumers should be given a choice between AVMs, standard lender valuations, home buyer reports and full structural surveys. Iain Williamson, head of key accounts at BM Solutions, says: “This shows brokers believe borrowers should be offered a choice. AtBM Solutions they get that choice as well as a fairly-priced AVM.”

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Research by insurer LV= suggests that some 11 million employees in the UK have no company-paid sick leave entitlement. So if an employee from within the above grouping cannot work through illness or injury for any period of time, their only income would likely be that provided by state benefits alone.