Regulation of the mortgage sector after October this year could lead Aviva's surveying services company E.surv to do deals with networks such as Sesame or Inter-Alliance if lenders can be persuaded to relinquish some control over the valuation process.
Paul Latham, E.surv managing director, points to events in the 1980s as the reason why lenders maintain their grip over the process today as part of risk controls. However, actual surveying is already being outsourced to a degree, and it could be the case that regulatory change enables different business models giving networks an expanded role in the mortgage market, Latham suggests He also sees growing use of automated valuation model, AVM, services, which explains the stake the Aviva-backed firm has taken in Hometrack. The latter offers a form of AVM in the UK market through to...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
