VAS Group is a hugely successful property and land valuations firm comprising of four separate businesses:
- VAS Audit provides live and retrospective auditing and assurance services to reduce property specific lending risks;
- VAS Panel provides a full valuation panel management service which ensures the most relevant companies are instructed based on location, deal type and value;
- VAS Software is a cloud-based valuation panel management framework system which allows lenders to better manage their own panels.
- VAS Valuation Management is an independent consultancy business which provides strategic solutions to European lenders, financial institutions and investment fund managers;
The VAS Group is the only business shortlisted in the Mortgage Introducer 2020 Awards which operates across the Commercial, Development, Residential and Specialist Sectors, working in partnership with bridging, short-term and term lenders.
Throughout 2020 the company has played a significant role in keeping the finance industry moving, delivering desktop valuations during the initial lockdown and promoting and adhering to RICS best practice throughout the Covid-19 pandemic.
This submission will focus on the work of VAS Audit and VAS Panel, which currently accounts for over 95% of billable work.
VAS Audit is a valuations and assurance business that was launched in 2015. It provides live and retrospective auditing to reduce property specific lending risks and to ensure high valuation standards are maintained. It ultimately offers an important additional level of protection for both lenders and valuers with regards to risk management.
VAS Audit is paramount in helping lenders reduce property specific lending risks.
VAS Audit also provides lenders with a unique advantage – to be able to review existing valuation reports, prepared for another lender, and provide the client with advice that might give them confidence to accept the valuation report already prepared. This ultimately saves the customer money and adds value to our clients.
VAS Panel is a comprehensive valuation panel management service which was launched in December 2017.
VAS Panel places loan security valuations on behalf of its lender clients ensuring the most relevant companies are instructed based on location, deal type and value. It is delivered through a bespoke database and backed up by an experienced team, ensuring high-quality standards and the ability to act immediately to any issues or the requirements for additional reports.
The VAS Panel database now consists of 180 valuation firms covering over 250 offices throughout the UK, meaning it is the most comprehensive database of its kind. The valuation companies range from 1-2 director experienced local firms to huge nationals, including Lambert Smith Hampton and JLL.
With their high level of quality assurance working alongside industry experts, VAS Panel has a complete overview of which valuation firms are performing well and which aren’t across both geographies and lending sectors. This allows the business to undertake a constant audit on performance which ensures a level of quality not seen before in the valuations sector.