Bank of Ireland is latest lender to recommence physical valuations | Mortgage Introducer

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Desktop valuations will continue in other parts of the UK, including Northern Ireland, for properties up to 85% loan to value (residential) and 75% loan to value (buy to let), pending further updated guidance.

Iain Smith, head of intermediaries, Bank of Ireland UK, said: “The return to physical mortgage valuations is a positive sign for the mortgage market.

“We’ve continued to work closely with our brokers and be there for them during these difficult times.

“As well as providing a range of additional measures to support mortgage customers – including acceptance of furloughed customers, payment breaks, and product transfers for customers in payment breaks – we have been providing desktop valuations and maintained our normal underwriting service levels, so avoiding application backlogs.”

If for any reason a physical valuation is not possible, the bank will still provide desktop valuations.