HSBC has introduced automated and desktop valuations to products up to and including 90 per cent LTV “in many instances.”

The lender says in a note to brokers that because the timeline for being able to complete physical valuations remains unknown, it is pausing transactions above 90 per cent LTV on a temporary basis.

Product transfer business remains unchanged, HSBC adds.

“Our range of products up to 90 per cent remains one of the most comprehensive and  competitive in the industry and rest assured that all cases in the pipeline where a  physical valuation is required will progress as quickly as possible as soon as the  current restrictions are eased.

“As ever, we will continue to review the situation and keep you fully informed when the market starts to return towards normality,” says head of intermediary mortgages Chris Pearson.”