AMP introduces upfront property valuation

Jonathan ChancellorOctober 12, 2011

AMP Bank has introduced upfront property valuations for mortgage brokers and financial planners submitting loan applications on behalf of their customers in an attempt to accelerate the drawn-out home loan process.

Valuations are typically conducted after a loan application being submitted to AMP, but accredited parties will now be able to order a property valuation online before submitting a home loan application.

AMP head of sales and marketing Steve Craig says the new process willprovide the bank and customer with greater certainty.

"The benefits to distributors and borrowers are significant - quicker speed to formal approval, less reworking of applications, and more certainty around the outcome of the application."

The valuations will still be undertaken by AMP's property valuation providers.

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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