The new service, which includes the roll out of Hometrack automated valuations, follows on from an initial pilot conducted by Pepper Money, which enabled them to offer mortgages to customers within 24 hours of an application being submitted.

Not only does the AVM roll out save on time for Pepper Money, but in reducing the need for physical valuations, it drives down costs too.

Commenting on behalf of Pepper Money, Paul Adams, Sales Director at Pepper Money, said: “At Pepper Money, we are continually committed to enhancing the service we provide to our brokers, so that they can deliver a better experience to their customers. Expanding our use of AVMs enables us to streamline the application process of residential remortgages where the LTV and loan size allows, making it even easier for customers to access our award-winning specialist mortgages.”

Commenting on the new customer win, George Robbins, VP Commercial at Hometrack, said: “Delivering a faster time to yes for customer mortgage applications is the number one priority for most lenders, and the AVM drives towards just that. Furthermore, in removing the labour of a physical valuation, the AVM also saves lenders money as well as time. We are delighted that Pepper Money has signed up to Hometrack’s AVM services after a successful trial period, and we look forward to supporting them as they expand their journey into automation.”