Kensington has launched automated valuations and electronic identification as part of its K-net eCommerce platform.
AVMs and e-IDs are free to brokers, but packagers are only entitled to free AVMs. They are available on remortgage applications submitted online for loans up to a maximum of £150,000 on properties worth up to £500,000, and with a maximum loan to value of 75 per cent.
Kensington director of marketing Ian Giles says: “We are thoroughly committed to harnessing technology to improve service for our packagers, brokers and ultimately our borrowers, and this has been an exciting month for all of our customers as we have made great strides forward with K-net.
“Earlier in September we launched K-link to integrate with our packager partners and now we have launched AVMs and e-IDs, all intermediaries will benefit from improved speed and efficiency.
“The use of AVMs and e-IDs will create a fast track service on mortgage applications, cutting the time between application, offer and completion and helping to streamline the service we provide.”