tx
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Post by tx on Jun 10, 2018 21:50:42 GMT
Any one has any insight in to this VAS Panel thing? What is this all about? Don’t quite get it means in the round-up.
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tx
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Post by tx on Jun 10, 2018 23:17:30 GMT
Well, this may be it. But what did Ly mean that they “partnered” with them? Does it mean they no longer choose different RICS valuation companies up and down the country, and instead, they are going to use a single company to provide them with valuation? Feels more like outsourcing the valuer selection process to this VAS. Just guessing. This however won’t change the issue of using GDV and not distressed valuation for LTV Calc.
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zlb
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Post by zlb on Jun 11, 2018 16:30:54 GMT
Whatever it is, does it evidence that Ly believe the existing model to be too faulty to continue with?
How long would one have to wait to see if this new model worked though?
Plus will this thing know how to value one-off properties like are sitting with bad valuations presently?
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mary
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Post by mary on Jun 11, 2018 17:52:02 GMT
So instead of L instructing a RICS valuation directly, they consult this outfit who recommend a suitably qualified organisation.
The issue is, who pays for the expertise of the VAS?
1. Lendy pays, and their costs go up.
2. The Valuer pays a commission to VAS.
I find #1 unlikely, #2 very worrying, as only valuers willing to pay the commission (kick-back) ever get to be recommended, and this is unlikely to raise standards.
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rocky1
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Post by rocky1 on Jun 11, 2018 18:51:23 GMT
what does VAS stand for? and how are they better qualified than RICS ?are they just an outfit jumping on the p2p bandwagon knowing they can make a nice little earner out of this.why have they not been mentioned before by any p2p platforms if they are so good.
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empirica
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Post by empirica on Jun 11, 2018 21:33:12 GMT
Valuation Audit Services UK Ltd Limited Company Registered in England under company number – 09719651
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bugs4me
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Post by bugs4me on Jun 11, 2018 21:36:18 GMT
what does VAS stand for? and how are they better qualified than RICS ?are they just an outfit jumping on the p2p bandwagon knowing they can make a nice little earner out of this.why have they not been mentioned before by any p2p platforms if they are so good.
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zlb
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Post by zlb on Jun 13, 2018 11:14:02 GMT
Maybe using this panel enables an easier route to claims against wrong valuations... Would it make a difference to the 'percentage wrong' before being able to claim?
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