Short-term lender Hope Capital has partnered with property dashboard DeskVal, allowing it to offer automated valuations up to 75% loan to value (LTV) on properties worth up to £750,000.
Hope Capital previously offered automated valuation models (AVMs) up to 70% LTV and said the partnership with DeskVal would give borrowers access to faster turnarounds and cost-saving options.
This will sit alongside Hope Capital’s existing desktop valuations, which it says are delivered within 48 hours and up to 75% LTV on properties with a value of up to £1m, and 65% LTV on properties valued up to £2m.
The lender also provides full valuations, within 5-7 days, on cases that require further investigation and fall outside its AVM and desktop criteria.
Hope Capital said the instant valuations could be combined with its dual representation offering, which is available across residential, semi-commercial and commercial properties.
Laura Carr (pictured, middle), head of underwriting at Hope Capital, said: “It is fantastic to join forces with DeskVal and significantly increase our valuation offering to benefit our borrowers. Thanks to DeskVal’s pioneering technology, this will be a game-changer in the market, enabling us to deliver very fast timescales for even more projects with up to 75% LTV now being available.
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“A fantastic additional benefit is DeskVal is also done at no cost to the borrower.”
Sabina Thorpe (pictured, left), chief marketing officer and co-owner of DeskVal, added: “It’s brilliant to partner with Hope Capital to launch and benefit from our professional indemnity (PI)-backed instant valuation product. When it comes to lending, speed and accuracy are crucial. Our data-driven AVM delivers on both.
“DeskVal also saves time and money by bringing all relevant comparables together on a single screen, providing instant, accurate valuations with PI for residential, houses in multiple occupation (HMOs), multi-unit blocks, commercial, and semi-commercial properties.”
