On new business they will use both physical and desktop valuations as necessary and will be launching a wider range of products supported with a mix of physical and non-physical valuations next week.

Residential mortgages up to 90% loan-to-value (LTV) and buy-to-let (BTL) mortgages up to 80% LTV will be available and temporary limits on loan sizes and property values will be withdrawn.

There will be a return to previous maximum loan sizes. Physical valuations will be booked in England initially and applied to pipeline cases in the rest of the UK as soon as restrictions in other areas are eased.