In April, LV= launched desktop valuations to help customers access lending through equity release during the coronavirus outbreak.
LV= is reintroducing physical valuations for new equity release customers with applications that were initially put on hold being re-prioritised for physical valuations where possible.
A customer would not be eligible for a physical valuation if anyone living in the property is self-isolating due to being diagnosed with or showing symptoms of COVID-19, or because the NHS Test and Trace team has advised them to self-isolate or if anyone living in the property is shielding.
David Stevens, director of savings & retirement at LV=, said: “The careful re-introduction of physical valuations will be a clear indicator of how the equity release market will respond to the coronavirus crisis as we come out of lockdown.
"Those unable to have a physical valuation can still have the option of desktop valuations to progress their applications subject to meeting our desktop valuation lending criteria and we will continue to help financial advisers to find the right equity release solutions for their clients.”
