Video Transcript

The benefits of valuation auditing can be for lenders, brokers and valuers. For lenders, it can help with readdressed valuations. It can also help by checking valuations over a certain amount, maybe one or two million pounds, or where cases involve specialist properties where the lender may not have the in-house expertise. It can also help manage their own valuation panel.

Valuation auditing adds value for lenders, brokers and valuers.

For brokers, it can help to check a valuation or i.e. a readdress prior to approaching a lender, making sure that this case is worth proceeding with. For valuers, it can help test individual valuers or whole offices to help improve standards and making sure they adhere to the RICS guidance. It can also help with performance management and annual reviews. And finally, it can help with PI discussions with insurers.