View more on these topics

Prestige expands its use of AVMs over surveyor concerns

Secured lender Prestige Finance has expanded its use of automated valuation models on the back of concerns over the increasing pressure on surveyors.

AVMs are now accepted up to 65 per cent LTV on all standard plans up to a maximum loan size of £50,000.

In addition it has made a number of other changes to its criteria including reducing its credit score to allow historic arrears, County Court Judgements and defaults on loans up to 75 per cent LTV.

It has also increased its LTV to 80 per cent, loans from £75,000 to £200,000 are now available up to 75 per cent LTV.

Prestige director Simon Stern says the new critieria has been designed to assist both brokers and their clients.

He says: ”We have moved quickly to increase our use of AVM’s to speed up the lending process in the wake of concerns over the pressure on surveyors.

”This is yet another sign that we are constantly looking to evolve as a business. The quality of the cases we are seeing, along with the appetite and support of our parent and introducers, make this next step in our journey that much more significant.”


MS Leader: Bubble and bubbly

Despite talk of a housing bubble forming in London last week, that did little to dampen the general mood at the Intermediary Mortgage Lenders Association’s annual bash in London last week. This year’s event was back at the Sheraton Park Lane Hotel, the same venue for the event a couple of years ago when the […]


Ed Balls calls for immediate Help to Buy review

Shadow chancellor Ed Balls is calling for the Bank of England to review the second phase of Help to Buy now after the Treasury said it will be given review powers from next year. The Treasury announced earlier today that the financial policy committee will conduct annual reviews of the Help to Buy scheme every September and will […]

UK policy: Kate Moss and short-termism

“Nothing tastes as good as skinny feels,” said supermodel Kate Moss, who is not often credited for her insights into policy making. Perhaps she should be. In politics, as in matters of diet, the course of action that is the best over the long term is often not the most desirable course of action in the short term. Add the instant gratification of the democratic electoral cycle and, instead of good policy making, you sometimes get the equivalent to a midnight binge in front of the fridge.

Read more

Important information

Investment risks

The value of an investment and any income from it can fall as well as rise and you may not get back the amount originally invested. Forecasts and past performance are not a guide to future performance. Some information and statistical data herein has been obtained from sources we believe to be reliable but in no way are warranted by us as to their accuracy or completeness. These are Neptune’s views and as such this document is deemed to be impartial research. We do not undertake to advise you of any change to our views.


News and expert analysis straight to your inbox

Sign up