VAS Group has been rebranded to VAS Valuation Group, while its VAS Audit division has been renamed VAS Assurance.

The business has undergone several major developments since its inception in November 2015 when it was known as Valuation Audit Services (VAS), and the main name change is designed to reflect a company that now employs over 30 people delivering across all lenders’ valuation requirements.

VAS Assurance, originally VAS Audit, has been changed to better reflect the type of work the division undertakes which currently includes live and retrospective Valuation Auditing, Valuation Desktop+, Project Monitoring Audits and Loan Book Monitoring.

VAS Software, the cloud-based valuation panel management framework system which allows lenders to better manage their own panels, will come into the VAS Assurance umbrella of product and services.

VAS Panel will continue as a standalone division, providing a full valuation panel management service to lenders.

VAS Valuation Group now regularly completes over 1,000 valuations per month for the short-term, challenger bank and term space lenders. Over the last 12 months it has valued more than £5bn worth of commercial, semi-commercial and residential property.

Stephen Todd, chief commercial officer and co-founder, said: “What this company has achieved in under seven years is remarkable. We are now the trusted valuations partner of choice for leading lenders across the spectrum, as well as a principal advocate of surveyors and reporting quality across the country.

“This progress has opened the business up to ever widening markets and opportunities, and to have a Group name and divisions, Assurance and Panel, which simply and clearly reflect our full service offering is vital going forwards. These are very exciting times.”

Gina May (pictured) chief operating officer and co-founder, added: “I hope the market will agree the new changes whilst subtle, help better explain who we are and shows the type of organisation we are developing into.

“To think we started with just two people, have grown to over 30, and employ some of the most respected names in the lending and surveying markets is just incredible. While our customer interaction technology is one of the best in the market it’s our team who truly set us apart, they are amazing.”