The Sunday Times - Beware the computer surveyors that say ‘yes’
Homebuyers could move into their new homes only to find serious problems as mortgage lenders turn to computer valuations instead of human surveyors to speed up applications and cut costs.
Aaron Strutt of the broker Trinity Financial added: “Buyers like to have a valuer visit the property to make sure there isn’t something substantially wrong. A detailed valuation gives them the added comfort that their investment is safe; with a computer-based assessment, this safety net is not there.
“If the other lenders see the system is being used successfully and it is helping to reduce processing times, there is a chance it will be more widely used.”
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