e.surv originally launched a Remote Valuation solution in 2017, bridging the gap between AVM (Automated Valuation Models) and valuations derived via physical inspection.

By working closely with lenders on a tailored solution, e.surv has been able to support the market while prioritising the safety of its staff, its customers and the wider public.

With physical valuations on hold, e.surv consulted with lenders to agree upon an appropriate and effective contingency and the volume of cases is increasing daily.

The Remote Valuation solution combines sophisticated risk assessments with third party data and local knowledge from surveyors, enabling e.surv to conduct remote valuations safely and accurately. It uses an iPad-based Remote Valuation Application and risk engine technology.

While not all cases are suitable for this valuation methodology, by making use of the rules e.surv has developed with lenders, many previously suspended applications are now moving forward to completion.

Richard Sexton, director at e.surv, commented: “Our tailored solution ensures the safety of our employees and customers, while upholding the excellent standard of service that is expected of us.

“Since the start of the Covid-19 crisis, we have worked closely with lenders to agree an accurate and safe alternative to physical valuation and we are continuing to improve our offering.

“We completed thousands of Remote Valuation cases last year and we expect to see an uplift in demand in 2020. By the end of next week, we anticipate being live with at least 14 lenders from all sectors.

“With some lenders suspending use of AVMs, we anticipate a growth in demand for Remote Valuations in the coming weeks and months.”