Positive says this will not only save money, but also time, as the online valuations are generated instantly. To qualify, applications must have a maximum gross LTV of up to 50% and a maximum purchase price/property value of £500,000. The AVM must achieve a confidence level of A, B, or C.
Positive’s bridging team will let the intermediary know if their client’s case qualifies for a free AVM; if not, the company assures that a physical valuation can be arranged quickly.
Chris Fairfax, Managing Director at Positive commented:
“2016 is the year that Positive Lending shakes-up the packager sector by launching a range of market-leading customer-centric exclusives. Following the tremendous success of our secured loan £995 fixed fee proposition, the time is right to launch another great customer incentive – this time for intermediaries with bridging loan borrowers.
"This Positive exclusive is a double-whammy for bridging loan intermediaries; not only will they save their client’s time with instant valuations they’ll also save their client’s money as Positive pay the AVM fee. It’s also important to note that intermediaries don’t lose out with this free AVM offer - it comes with the same competitive interest rates, the same commissions and the same great service that they and their clients deserve. Initial response from our intermediary partners has been overwhelmingly positive; but this customer centric approach is something they have grown to expect from Positive Lending.”
