Aldermore Bank is resuming physical mortgage valuations on rental properties for buy-to-let purchase and remortgage in England, following on from the reintroduction of physical valuations on residential properties last week.
It says strict social distancing and safety measures will be met in line with government guidance released on 10 May. Aldermore will ensure a detailed risk assessment is undertaken ahead of a valuation appointment so that the safety of residents and surveyors is prioritised.
Remote valuations will continue to take place when possible in Scotland and Wales, and applications in these countries that require a physical property valuation will be put on hold until social distancing restrictions have been eased.
Larger rental properties such as HMOs will not be suitable for a physical mortgage valuation until social distancing restrictions have further eased.
Jon Cooper, head of mortgage distribution at Aldermore, said: “We continue to back our landlord customers through this most testing of times and are committed to providing options and assistance for them. Landlords play a vital role in providing much-needed support to the private rented sector and local economies across the UK, so we are glad we can help them get going on their future portfolio plans.
“Safety of course remains our number one priority. The protection of our customers and surveyors is paramount and we will be adhering to the government guidance to ensure all valuations are carried out in a safe way.”
