Lockdown restrictions are constantly changing and with the recent announcement from the Government of the 2^nd lockdown for England our valuation approach is as follows:

Currently there are no locations where surveyor services are suspended.

England – New lockdown restrictions from Thursday 5^th November – physical valuations are still allowed to take place

Wales – ‘Fire Break’ lockdown until 9^th November – physical valuations are still allowed to take place

Scotland – 5 Tier system commence 2^nd November– physical valuations are still allowed to take place

Northern Ireland – Restrictions introduced 16^th October for 4 weeks – physical valuations are still allowed to take place

Physical valuations

All new applications, further advances and ports a physical valuation will be instructed with Countrywide. Countrywide will carry out their risk assessment with the customers at the time of booking an appointment.

A physical valuation should not be carried out where any member of the household is experiencing symptoms of COVID 19 and/or they are self-isolating. In this situation Countrywide will put the valuation on hold and book an appointment for after the self-isolating period.

If a customer is considered clinically vulnerable and a physical inspection cannot be safely carried out Countrywide will make arrangements to carry out a desktop valuation with the benefit of an external visit to the property. An appointment will still be made with the customer for the external inspection.

Desktop valuations

Where a desktop valuation has been carried out the loan will be subject to full underwriting assessment for suitability and the following criteria will apply;

• J3, J4, and J5 LTV series, a 5% reduction to the property valuation will apply (desktop/external valuations are not available for J6 LTV series)
• A full physical valuation will be required in the future (at Just expense)
• An additional property questionnaire & photos are to be provided
• The property is suitable for a desktop valuation – please see our Acceptable Properties Guide for Desktop Valuations
• Loans where funds are for home improvements/essential repairs will not be accepted
• Loans where funds are for non-essential reason the loan amount may be reduced until a full inspection can be carried out.

The type of valuation or if the case is to be put on hold will be established after Countrywide’s risk assessment. If Countrywide are unable to carry out an external inspection they will refer the case to the Underwriters for a decision on how to proceed.

Desktop valuations will only be released with permission from Just underwriting team, please do not assume they can be shared.  If you wish to see a desktop valuation please raise this as a normal request, and assume an SLA of 48hrs to deal with the request.