United Trust Bank has confirmed that more than half of all valuations for its bridging loans are now completed using Automated Valuation Models (AVMs), marking a significant operational shift aimed squarely at speed and certainty.
The lender revealed that 52% of bridging loan applications since the start of the year have qualified for an AVM, removing the need for physical inspections and accelerating the journey from Decision in Principle (DIP) to offer.
The move is already reshaping processing times. AVMs are free of charge and eliminate site visits, scheduling delays and report turnaround times – a critical advantage in time-sensitive bridging scenarios where execution speed can determine whether a deal proceeds or falls apart.
FASTER COMPLETIONS
With competition intensifying across the bridging sector, the ability to remove valuation bottlenecks and deliver predictable timelines could prove a decisive differentiator for brokers seeking faster completions and greater deal certainty.
UTB has spent the past year refining its AVM criteria to widen eligibility and extend the benefits to more borrowers.
AVMs are now available on bridging loans up to 75% LTV, for facilities up to £1.25m and on single property values of up to £2m.
The increased automation sits alongside wider enhancements to underwriting and case management as the lender pushes to compress timelines in a competitive bridging market.
AVM CRITERIA
Gene Clohessy (main picture), director of underwriting – bridging and buy-to-let at United Trust Bank, says: “We place significant value on AVMs, and over the past year we have refined our AVM criteria to the extent that more than half of our bridging loan customers now benefit from the cost efficiencies, speed, and upfront certainty they provide.
“The increased utilisation of AVMs, combined with wider enhancements to our processing and underwriting, is enabling us to deliver faster decisions, and minimise delays from application through to completion.
“This continued improvement offers brokers even stronger justification for selecting UTB when they require a swift, competitive, and dependable service.”
