"Lenders, their brokers and borrowers in this market need an independent second line of defence which can identify issues before they become a problem later on and this is what our dedicated team offers"
- Trudy Woolf - e.surv
Following the successful launch of its interactive web-based portal, e.surv has announced that it is now reducing the application to offer time for new build mortgage applications. This follows the launch of their digital valuation for new build property, which delivers a same-day completion for some new build valuations.
The dedicated team, led by Trudy Woolf, Director of Lender Services at e.surv, provides a full range of new build valuation services, enabling lenders to navigate the rapidly changing sector.
“The government’s pledge to build 1.5 million homes in this parliament means that data and insight in the new build market have become essential in understanding lenders’ site exposure risks as well as the growing issues around build types, warranties, management charges, and incentives," explained Trudy Woolf, "But its rapid growth means the issues facing those lending in this market are evolving quickly."
She added, “We already have experience of the different challenges between brown, grey and green field sites, such as access, historic use and contaminated land, and we are also seeing how the proportion of affordable housing can impact resale values across sites. Not only are we reporting regularly on issues around warranties, incentives and management charges but we are seeing the mix of properties and build types changing too. There is a noticeable increase in the use of Modern Methods of Construction, an increased use of timber frames, and the changing climate impact on new sites is, in some cases increasing flood risk.
“Lenders, their brokers and borrowers in this market need an independent second line of defence which can identify issues before they become a problem later on and this is what our dedicated team offers. We are continuing our investment in the technology, data and our team to deliver more for clients.”
