UK Fintech Launches New Property Valuation Service

https://thefintechtimes.com/uk-fintech-launches-new-property-valuation-service/
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Method Valuation UK Limited, a Northeast-based Fintech company, has recently launched a new online property valuation service for accountancy, finance and legal professionals.

Method xi Professional enables such professionals to impartially obtain property quotations and instruct valuations of residential and commercial property assets using a secure, transparent, cloud-based, valuation management system.

At launch, users are able to obtain multiple fee quotations for a valuation from a pool of 160 valuation practices across the UK at the touch of a button.

Managing Director, Mark Robertson MRICS added “”Following a successful pilot we are delighted to launch Method xi Professional to the residential and commercial valuation market. We see this technology as a real game changer in how professional advisers source valuations for their clients.

“The ability to send a quote request to multiple valuers, who specialise in a particular type of valuation, at the single click of a button stops an adviser from having to fish around and hope the potential valuers they identify are suitable.

“It puts an end to the time-consuming phone book lottery or being over-reliant on a practice’s own connections who may not be best placed to undertake a particular valuation.”

“For many years it has been apparent that the secured lending market has the real expertise in commissioning and placing valuations, above and beyond that generally seen elsewhere.” Mark commented.

“After discussions with Law Firms and Accountancy Practices across the north-east, we decided to adapt and refine our cutting-edge, on-line software system so that the system’s benefits could be made available to professional advisers, such as solicitors, accountants, and pension trustees.

“We wanted to take what we have learned as a valuation panel manager in the secured lending market and apply this to the professional services market to help provide a more robust solution. We recognised that the more ah-hoc nature of commissioning valuations by professional advisers was creating unnecessary risk and uncertainty for them.”

Launched in 2014, Method has built a strong reputation for delivering cost-effective, fast and efficient valuation management services to over 30 secured lender clients throughout the UK from its offices in Gateshead and Stockton-on-Tees.

The system, developed and managed in the North East by Method’s in-house software development team, provides a cutting-edge solution with simple and straight-forward user interfaces.

Mark added, “The new Method xi Professional system uses the same stringent selection criteria that exists in the banking and secured lending world, giving professional advisers peace of mind. Because the secured lending side of Method has been so successful, we have been able to build a system that matches the most appropriate valuers to a valuation.

“There are adjustable parameters with regard to, amongst other things, the size of a valuation practice, RICS Registered Valuers, levels of Professional Indemnity Insurance, and how far a valuer should be based from a property they are valuing. In building a framework that ensures only the most appropriate valuers are selected to quote for a valuation, we remove the risk of advisers recommending or instructing valuers who are not suitable.”

All interactions between parties through the system are GDPR compliant, all communications, such as quote requests are sent in real time to appropriate valuers. “What we have seen is that valuers are responding quickly. The system also allows advisors to generate date and time stamped case history summaries at the click of a button. It’s a feature rich system that adds value, reduces risk and saves time for our clients.” Mark commented.

“In many ways Method xi Professional is a natural extension to what we were already delivering. By extending our valuation services to the world of legal and financial professional advice we can use our cost effective, fast and efficient technology system, to ensure the right valuer is selected for the task.

“As a Fintech provider we are very excited by the developments technology can bring to the UK valuation market. We are also obviously very proud of our North East roots and are committed to growing the company locally. It’s an exciting time to be involved!”

https://thefintechtimes.com/uk-fintech-launches-new-property-valuation-service/