In just a few months, six UK companies have joined forces with leading panel manager, Bristol-based Allied Surveyors and already the benefits are clear.
For the lenders and packagers it means peace of mind. A chance to hand over valuation and survey instructions to one company in the knowledge that the work can be carried out and completed within strict service standards.
The company – the largest group of independent chartered surveyors in the country with 160 offices nation-wide – expects its ever-expanding portfolio to generate more than 20,000 instructions a year.
Contracts have been implemented with Hampshire-based County Mortgage Services, Genesis Mortgage Services in Peterborough, Apple Home Loans of Swindon, Active Investments in Reading, Cardiff-based Warwick Finance and Abacus Mortgages in Billingshurst, Sussex, with interest coming in from other areas constantly.
Allied Surveyors business development director, John Archbold said: “Speed is a critical issue here. Building societies want to get mortgage offers out as quickly as possible and they are keen to promote the fact that they can get customers mortgages in 14 days. The more efficient the business, the quicker the decision can be made.
“Many of the major players in the industry use panel management and it is certainly a growing issue. In the past companies may have had a number of people chasing surveys. By employing one company they can make better use of those people within their businesses.
“We are ideally placed to offer a thorough and efficient panel management service to our clients.”
Under the contracts, Allied Surveyors will oversee property valuations across the UK, including checking the progress of instructions, and supplying quality valuation reports.
As a result of significant investment in information technology, Allied Surveyors is electronically linked to its panel management clients, allowing the lenders and brokers to keep up-to-date with the progress on individual cases.
Instructions are generated electronically and, as soon as reports are available, they are sent via the computer directly into the clients’ offices.
At the end of the month they receive just one invoice – cutting down on the weight of paperwork generated by business in the past.
Hampshire-based County Mortgage Services moved long-standing business with another client to Allied Surveyors because it was so impressed with the company’s speed, efficiency and professionalism.
