VAS Panel has helped reduce Assetz Capital’s time-to-cash by an average of 15-days per application.
The lender has used VAS Panel’s valuation panel management service since 2017 to instruct third-party valuers to provide loan security valuations.
With circa 80% of reports returned within seven days, and a thorough monthly reporting system in place, it has allowed both companies to introduce efficiencies which has assisted the flow of money from application to completion.
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Mark Standley, national commercial director at Assetz Capital, said: “The care, attention, support and personalised service we receive from VAS has been invaluable in helping us to successfully manage huge demand for the Government’s CBILS scheme ahead of various deadlines since last summer.
“Going forward, with a refreshed and sharpened proposition, the relationship now facilitates a high volume of transactions through timely efficient bridging alongside our funding for larger value development loans and commercial mortgages up to £10m.”
Graham Moore (pictured), managing director for VAS Panel, added: “Our dedicated team work seamlessly with our panel technology to not only de-risk the valuation process, but to ensure this step of the lending process is completed as quickly and thoroughly as possible to help deliver quicker drawdown times.
“We have worked closely with Assetz Capital since 2017 and it is through open and honest dialogue, and by challenging each other, that we have been able to deliver a 15-day reduction in time-to-cash. But that journey doesn’t end here, we will continue to work collaboratively to minimise this timeframe still further.”