Castle Trust Bank has introduced automated valuation models (AVMs) on eligible buy-to-let mortgage applications, aiming to reduce delays and speed up the lending process for brokers, landlords, and property investors.
AVMs will be available on standard residential properties, including houses and single flats, where the property value does not exceed £750,000, and the loan-to-value is no higher than 65%. On qualifying cases, the change removes the need for a physical valuation, streamlining the application journey and supporting faster decision-making.
"Brokers need lenders that help them turn opportunities into positive outcomes for their clients, and the introduction of AVMs on eligible Buy to Let cases is another practical enhancement that enables us to do exactly that," said Anna Lewis, commercial director at Castle Trust Bank (pictured).
"By reducing reliance on physical valuations where appropriate, we're able to deliver a quicker, more efficient application journey, helping landlords and property investors access funding faster and with greater certainty.
"It's part of our ongoing commitment to removing friction from the lending process and providing brokers with the tools, service and solutions they need to support their clients' goals."
The move forms part of a broader programme of investment in service and technology at Castle Trust Bank. Recent improvements include the launch of a new website, an upgraded PULSE application platform, and a continued focus on faster lending.
The AVM introduction is the latest step in that programme, with the bank looking to sharpen its buy-to-let mortgage applications proposition for the broker market.
