TML UTLISES AVM TO SUPPORT BTL REMORTGAGE LOAN IN JUST FIVE DAYS

The customer, who holds 44 buy-to-let (BTL) properties in their portfolio, was seeking to remortgage on one of their properties. Rather than having to perform a physical valuation of the property, we used the new AVM process, using a computer algorithm to estimate the value of a property at a specific time. This meant the application could be progressed in just five days and the tenants in the property did not have to be disturbed for the valuation appointment to be completed.

Working with the mortgage broker and with the support of TML’s Portfolio Key Account Manager, Sarah McCawley, underwriter Jo Gee, and Robert Dalzie who signed off the portfolio, we were able to offer a 75% LTV of £313,500 on the property.

Having only recently launched our new AVM service for BTL and residential deals, it’s very pleasing to see this further enhance our offering to our broker partners and end clients. Our broker partner was very reliant on us to deliver a decision with certainty and speed, and we were proud to achieve both of these for them.

At TML, we strive to act as swiftly and efficiently as possible on cases that come to us, and being one of just a handful of specialist lenders who offer AVM as part of the application process, it’s positive to see how our investment in technology is supporting the wider team involved in each case. Being able to delegate administrative tasks to tech means our team can focus more on any complexities of a case and progress applications at pace, while not dropping our high quality service we aim to provide.