Kensington provides AVM tool for packagers

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Kensington Mortgages is providing its packaging partners with the ability to produce automated valuations (AVMs) on mortgage applications.

The lender says the facility will enable packagers to produce their own AVM on a case cutting the time it takes Kensington to issue a fast track mortgage offer. Earlier this year Kensington launched K-link, the first large scale connectivity programme of its kind, allowing packagers to link into Kensington’s e-commerce system, K-net, to provide their brokers with binding decisions and key facts illustrations direct from the lender. In October it launched its fast track mortgage offer, using AVMs, on remortgage applications submitted online for loans up to a maximum of £150,000 on proper...

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