Masthaven Bank has become the 50th lender client that VAS Panel has signed up in just over a year.
Under the terms of the latest agreement, the VAS Panel database will be used on all commercial loan security valuations with the aim to provide the most relevant third-party RICS-qualified surveyors are instructed based on location, deal type and value.
Stephen Todd (pictured), co-founder and managing director of VAS Group, said: “To enter the latest partnership agreement with our 50th lender in just over one year of operations is an amazing achievement, and verification of our first-class database, strict quality standards and our dedicated, knowledgeable team.
“Within this time it is interesting to watch how the balance of work has altered, with term product valuations starting to take a larger percentage of the business against our traditional short-term finance instructions. We will continue to adapt to meet the needs of all our clients.”
Alan Margolis, Masthaven’s credit & operations director, added: “We are delighted to be using VAS for our commercial property product valuations. Our aim is for our brokers and customers to receive the same smooth underwriting experience for commercial property loans as they currently receive for our other bridging loan products.”