Paragon Bank has announced that surveyors will recommence physical valuations of properties in Scotland and Wales following the easing of restrictions.
Paragon will implement the same safety measures put in place when the English property market re-opened in May. To minimise any risk to their employees, customers and property occupants, safety assessments will be carried out prior to visits.
Protective equipment, such as face masks, gloves and shoe covers, will be available to surveyors who will maintain a distance of at least two metres from those inside properties.
The specialist buy-to-let lender will start by picking up visits that were arranged before Covid-19 forced a full lockdown of the UK property market. As part of this rescheduling, Paragon has made landlords, brokers and managing agents aware of the enhanced inspection processes, ensuring that visits are undertaken safely.
Richard Rowntree (pictured), Paragon’s managing director of mortgages, said: “It’s great to see that the devolved governments in Scotland and Wales feel that it is safe for physical property valuations to resume.
“Revised processes such as desktop valuations provided Paragon with the ability to continue serving the specialist lending market throughout lockdown. Now we can recommence physical valuations, the added expertise of experienced surveyors means we can provide products in even more complex cases.
“This is important because this sort of specialist lending caters to the needs of professional landlords, helping to facilitate the supply of high quality stock to meet the pent up and longer-term demand for rented accommodation.”