Aldermore Bank has resumed physical mortgage valuations on rental properties for buy-to-let purchase and remortgage in England.
However, larger rental properties, including HMOs, will not be suitable for a physical mortgage valuation until social distancing restrictions have further eased.
Jon Cooper, head of mortgage distribution, Aldermore, commented: “We continue to back our landlord customers through this most testing of times and are committed to providing options and assistance for them.
“Landlords play a vital role in providing much-needed support to the Private Rented Sector and local economies across the UK, so we are glad we can help them get going on their future portfolio plans.”
Remote valuations will still take place when possible in Scotland and Wales, and applications in these countries that require a physical property valuation will be put on hold until social distancing restrictions have been eased.
Cooper added: “Safety of course remains our number one priority. The protection of our customers and surveyors is paramount and we will be adhering to the government guidance to ensure all valuations are carried out in a safe way.”