Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

Castle Trust Bank Rolls Out AVMs to Speed Up Buy-to-Let Applications

Castle Trust Bank has introduced automated valuation models (AVMs) for its buy-to-let (BTL) mortgage products. The bank says this move is intended to accelerate application processing and provide greater certainty for brokers and their clients.

The new AVMs are available for standard residential properties, including houses and single flats, with a property value of up to £750,000 and a maximum loan to value (LTV) of 65%. By removing the need for a physical valuation on qualifying applications, Castle Trust Bank aims to reduce delays and streamline the customer journey for landlords and property investors.

According to Castle Trust Bank, this enhancement is part of its ongoing investment in service and technology. Recent improvements to its lending proposition include the launch of a new website, an upgraded PULSE application platform, and a continued focus on delivering lending at speed.

For letting agents and inventory clerks, the introduction of AVMs could mean faster mortgage approvals for landlords, potentially leading to quicker property transactions and reduced waiting times for new tenancies. The bank states that these changes are designed to support brokers and their clients by providing efficient tools and solutions in the buy-to-let market.