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Redwood Bank and VAS Panel reach £100m in term valuations

Simon Thompson | 13:45 Monday 29th July 2019

VAS Panel has completed more than £100m worth of valuations for Redwood Bank in just eight months.

The specialist bank provides individually assessed mortgages for business owners and professional landlords.

Redwood Bank ensures that third-party valuers are providing loan security valuations based on location, deal type and value by using VAS’s valuation panel management service. 

Gary Wilkinson, CEO and co-founder of Redwood Bank, said: “We have thoroughly enjoyed working alongside VAS and appreciate the hard work that [it does] to support us here at Redwood.

“[Its] excellent panel valuation service allows property-specific valuation matters and lending risks to be clearly identified, and at as early a stage as possible, therefore, greatly benefiting both ourselves and our customers.”

Stephen Todd, managing director at VAS Group (pictured above), added: “While we have primarily made our name in the short-term finance sector, we are increasingly working in the term space with lenders who can see the tangible benefits of our systems and procedures.”

Gina May, director of operations at VAS Group, concluded: “We pride ourselves on the quality of our valuation panel and maintaining high reporting standards, which is realised through strict processes, due diligence and exacting compliance. 

“This allows our lender partners to do what they do best: supply an exceptional primary customer experience.”

VAS Panel incorporates a cloud-based valuation panel management framework system, allowing lenders to better manage their own existing panels.

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