Method continues its deployment of tools to assist a lender reduce risk in its underwriting process
Method deploys its Deprivation Indexing Tool on the Method xi Lender Portal
Published 03rd Mar 2020
Method continues its deployment of tools to assist a lender reduce risk in its underwriting process.
From today, a lender can check the governments Indices of Multiple Deprivation ranking for any property through the Lender Portal. The Indices of Multiple Deprivation are a governmental tool which divides the country into small areas which are then ranked in accordance with the index methodology. The small areas are then organised into deciles of deprivation for the purpose of analysis, with ‘1’ indicating than an area is in the most deprived 10% of the country.
Method is aware that this tool combined with others allows lenders to assess loan book risk with some considering more deprived areas as less desirable locations for loan security assets.
Managing Director, Mark Robertson MRICS, said
“The tool we have developed and deployed follows a specific request from one of our existing clients. The tool issued today is the basic form that will be developed further over forthcoming weeks and which will tie in with developments to our Packager Portal. It is features like this that continue to set us apart from our competition”.
Method has a host of other features planned which are currently in development which will help cut out human error that human resource heavy panel management solutions can introduce.
Niall Deas MRICS RICS Registered Valuer, Method’s Operations Director added
“The feedback we have received from the client that was instrumental in this feature being developed is excellent. We believe that it is through our, and our lender client’s collaborative approach, that that we will remain ahead of the rest of the market”.
Available to use as full panel management, or simply when you need extra coverage, Method guarantees a clear, consistent, and reliable valuation service that minimises risk to your loan book.