Teachers Building Society has launched a digital mortgage valuation service to avoid delays to home purchases.

The service will allow new and ongoing mortgage applications to be processed for its full product range throughout the current pandemic.

The building society worked with partners Legal and General Surveying Services to assess relevant data and searches regarding the purchase property from a desktop, removing the need for physical valuation.

Teachers Building Society head of lending Keith Hannibal says: “Launching a digital valuation service means that we can continue to process mortgage applications without any hold-ups, whilst adhering to government guidelines over safe working.

“Many of our customers plans to buy a new home are unaffected by the current crisis. Some had begun the buying process before the pandemic started, whilst others are now progressing the purchase of homes they viewed before the country entered lockdown. We’re also receiving enquiries from borrowers who are keen to review and understand their financial options now, so they are ready to proceed with a purchase in the coming weeks.

“We’re committed to ensuring that all customers can progress their plans without delays resulting from the current climate. We hope the launch of the new service provides reassurance to them that they can still borrow from us and move home as planned.

“Whilst the digital valuation will not be a solution for all cases, we will look to progress as many applications as possible, with the remainder fully underwritten and put on hold until a physical valuation can be carried out.”