xit2's Valuation Exchange will process all of C&G's residential mortgage valuations. This new system will be in place from August 2004 and will offer unparalleled benefits to Cheltenham & Gloucester and their panel valuers.
Cheltenham & Gloucester relies on a comprehensive panel of surveyors to fully satisfy its demand for residential valuations. By using xit2's Valuation Exchange, all panel surveyors will be able to receive and process mortgage valuations in an efficient and timely manner.
Bob McKellar, C&G's Director of Business Services, commented:
"The Valuation Exchange allows Cheltenham & Gloucester to process reports and valuations using a single advanced system. This will provide more efficient processing and allow us to take advantage of the technological developments required for the impending changes to the Housing Act and data banking.
"It will also allow us to evenly distribute valuation instructions over the postcode network and monitor progress accurately and in real-time. Both of these improvements will mean that the levels of service we deliver to our customers will get even better. The reliability of xit2's system was another major factor in our decision as this is such a critical business area."
Paul Duckworth, managing director - xit2 said:
"Cheltenham & Gloucester were looking for the best solution to effectively manage their valuation process and we are delighted that they have chosen xit2.
"By simply logging on to the Valuation Exchange via the Internet allows Cheltenham & Gloucester to allocate valuations in a timely and cost-free fashion. One of the most sophisticated time savers is that if a valuation is not accepted by the surveyor within a specified timescale then it is automatically reassigned. Additionally, the progress of the valuations are shown on the system so that everyone is kept up-to-date and informed."
