Are there any minimum requirements for joining VAS? Main signatories on reports must have at least 2 years’ post qualification experience. Any counter-signatories must have at least 5 years’ post qualification experience.
Can I discuss my valuation with the applicant or the broker? No, once a valuation is completed, VAS will send the report to the lender directly. If there are any queries, the lender will ask for clarification via VAS.
Can I rely on your services? Only our customers who have agreed Terms and Conditions with can rely upon our services and receive a copy of our reports.
Do I invoice the applicant directly? No, VAS will take payment of valuation fees prior to the valuation being carried out. This avoids the potential for disputes with applicants further down the line. Your invoice should be addressed to VAS and submitted with your completed report.
Do you accept reports from AssocRICS qualified surveyors? Not at present. Our Bank and Lender clients require all valuations to be completed by MRICS or FRICS qualified surveyors only, however we do review this with our clients periodically.
Do you have your own report template, or can we use our firm’s own report template? For residential short form or ‘tick box’ valuations, we do have our own report template that has been approved by our lender clients. For all other valuation types, firms report using their own, free text, RICS compliant report templates.
Does it cost me anything to join VAS? No, it doesn't cost our surveying firms anything to be part of our valuation panel.
How are applicants invoiced? We can send your customer an invoice through our accountancy software using Stripe. Once we receive payment, we will instruct an auditor valuer. We will not instruct an auditor valuer the agreed timings to produce the report commences once we are in receipt of payment.
How can I access or leave your portal? Please contact info@vas-assurance.co.uk to add new users to the system.
How can I instruct you? Instructing us couldn’t be easier through our dedicated portal, which includes a document uploader so there is no need to email us.
How can you work with us? Please get in touch with us on info@vas-assurance.co,uk and we would be happy to arrange a call. Its relatively straight forward to start using our services, we have Terms and Condition that we need you to sign, we will then provide access to an online portal that allows you to instruct / get quotes directly.
How do I apply to join VAS? Please apply via the following link on our website: https://vas-group.co.uk/vas-panel/working-with-us/
How long do our services take? Our desktop valuation and live auditing is generally completed within 48 hours of instruction. Retrospective valuations are usually completed within 3-4 weeks of instruction. All timescales are clearly agreed at instruction stage.
How to contact us The best way to contact us is via email on info@vas-assurance.co,uk, which is constantly monitored. If it is an urgent matter, please call us on 01625 315 024.
I can’t get hold of all of the relevant information that I need to complete my valuation. What should I do? Inform VAS immediately. We can help obtain whatever information you require. If it will not be forthcoming, we can agree a mutually acceptable way forward with the lender.
Is there anything else which can occur post submission of my report? As you will be very well aware, Report on Titles are mostly prepared later on in the deal execution process and mostly after your report has been submitted. Either ourselves, the lender or their solicitor will send you the Report on Title and request that you confirm that nothing therein impacts your reported values. In addition, some deals take longer to execute than others so lenders may often request that you extend your reliance.
What are the requirements for us to carrying out an instruction? For VAS Assurance to carry out our services, we ask for a minimum level of information, which varies depending upon the service you require. We will provide a list of this after our initial call.
What does this quality assurance check entail? We check your report to ensure compliance with the lender’s instruction letter, the Red Book, as well as the quality of the overall advice expected by the lender.
What happens if the lender has any questions about my report? Often, lenders will have their own question(s) regarding your report. Such question(s) may relate to some of your assumptions, the valuation approach, the value, or some additional points they may want to include in the report. Sometimes lenders will ask question(s) that we are able to answer ourselves, and we will always try to answer any question(s) where possible. If we are not able to answer the question(s), then we will be in contact with you via email and request your support in answering the lenders question(s) in a timely manner.
What happens if you have questions or queries about my report? Following our quality assurance checks, we will send you an email describing the items which we believe need amending or require further attention in your report. We ask that you undertake any amendments or address any matters needing further attention and return the amended report as soon as possible so we may submit the report in line with the agreed submission deadline.
What happens once any amendments have been made? We will submit your report as final to the lender. You will also receive a notification by email that we have submitted your report.
What happens once my report is submitted? Once we receive your report, it will be sent to one of our team of Chartered Surveyors for review.
What if I can’t complete the report in the agreed timescale? If you cannot complete the report by the agreed date, please inform VAS at the earliest opportunity. We can then manage the lender’s expectations and agree a new timescale.
What if I disagree with the feedback provided? Clearly the report is your own and you need to be satisfied with its content. However, our quality assurance process aims to minimise any potential errors, inconsistencies or noncompliance issues. Sometimes you may not agree with our feedback, but we know our lenders requirements very well and we strive to give our lenders what they expect.
What if I want to discuss the feedback with your team of Chartered Surveyors? Our team welcome a direct discussion with you in the event that any issues can be more quickly resolved by telephone.
What if the lender or the applicant is contesting my value? Occasionally, your valuation figures may be contested by the lender or applicant, particularly where the value falls below their expectations. We will always pass on the lender’s comments and any supporting information to you, and ask that you review their comments. The report is your own and ultimately you need to be happy with the reported values, the methodology and your advice. If you believe that you need to change your advice, you can submit an amended report.
What times are we open? 9am – 5.30pm Monday to Friday, excluding bank holidays. We ask that all instructions are sent by 4pm, otherwise they will get allocated the following morning.
When are clients invoiced? We can invoice our clients directly at the end of each month, for all work carried out within that month. Payment is to be made to VAS Assurance within 30 days of us sending our invoice.
When can I submit my fee invoice? You can submit your fee invoice to us as soon as you receive notification that we have submitted your report.
Who are these Chartered Surveyors? We have a team of 10 Chartered Surveyors, most of which are Registered Valuers, with a combined experience of over 250 years. They are experienced valuation surveyors in all property types and UK geographies, having worked at local, regional and global real estate consultancy practices.
Who do I send my completed reports to? All valuation reports should be submitted directly to VAS, and not the broker, applicant or lender.
Who do we work with? We work with property lenders, from bridging lenders to regulated banks. We also work with valuation companies directly.
Who instructs the valuation? VAS will instruct you directly once we receive confirmation from the lender that the instruction is proceeding. This includes our instruction letter, together with the lender’s own requirements and any additional requirements relevant to that particular instruction.
Why do you need to review my report? Ahead of your report being submitted to the lender, our quality assurance process simply checks the report to ensure it is fit for purpose and can be a relied upon by the lender. We also want to minimise any post valuation questions from the lender. You also benefit from not only your own risk assurance process, but from our own quality assurance process which can only be beneficial to you.