Countrywide has signed a five-year deal as the lead firm to provide property valuations to Santander.

The agreement builds on a venture in August 2019, which saw Santander partnered with Countrywide Surveying Services to become the first lender to offer a mortgage product for first-time buyers that included a free condition report, called HomeFact.

This digital interactive report gave customers expert advice on the condition of properties they are in the market for. The report also links through to the HomeFact portal for further information about the home’s location, list such amenities as schools, crime rates, transport and broadband availability.

Spanish-owned Santander, which has over 15 million UK customers, said its free home condition report would normally be worth over £500. It adds that one in five of homebuyers who do not buy a condition report end up uncovering faults with their property, while a further 17 per cent end up paying out more than £12,000 to make necessary repairs to new homes.

Santander UK chief surveyor, head of residential valuation David House says: “The appointment of Countrywide Surveying Services as lead valuer is well deserved and a reflection of the ongoing strength of our relationship. Their Service to the bank and its customers during this challenging year has been outstanding. I look forward to our future collaboration in enhancing the customer experience and bringing innovative projects to market.”

London-listed Countrywide is the UK’s largest property services group, completing around £15 billion of mortgages a year.

Countrywide managing director, business to business, Paul Wareham says the deal “represents faith in our proposition”.

Countrywide Surveying Services managing director Matthew Cumber adds: “Technology, people and client requirements are constantly shifting, meaning we have to remain agile in how we work, evolve and innovate. These types of partnerships are key in ensuring that our offering stays ahead of the pack.”