UTB passes 50% mark for automated bridging valuations

United Trust Bank has announced that more than half of its bridging loan valuations are now completed using Automated Valuation Models (AVMs) as it continues to streamline processing for brokers and borrowers.

Since the start of the year, 52% of UTB’s bridging applications have qualified for an AVM, reflecting refinements to the lender’s criteria over the past 12 months designed to widen eligibility and improve turnaround times.

AVMs remove the need for physical inspections and valuation reports, helping cases move more quickly from Decision in Principle (DIP) to offer.

They are also free of charge, providing a cost saving for borrowers alongside greater certainty at an early stage of the application.

FASTER DECISIONS

Gene Clohessy, Director of Underwriting – Bridging and BTL at United Trust Bank — Gene Clohessy, United Trust Bank

Gene Clohessy, director of underwriting – bridging and buy-to-let at United Trust Bank, said: “We place significant value on AVMs. The increased utilisation of AVMs, combined with wider enhancements to our processing and underwriting, is enabling us to deliver faster decisions and minimise delays from application through to completion.

“This continued improvement offers brokers even stronger justification for selecting UTB when they require a swift, competitive, and dependable service.”

The lender added that the growing use of AVMs forms part of a broader focus on improving efficiency and delivering a smoother experience for intermediaries operating in fast-paced lending environments.