Martyn Stones from Countrywide Surveying Services recently spoke at the Later Life Lending Summit. Martyn shared the role of the surveyor and the responsibilities involved in achieving good customer outcomes.
Later life lending is a growing sector, requiring valuers to approach their role with expertise and sensitivity. Martyn’s presentation explored the valuer’s responsibilities, focusing on how valuations differ and the collaborative effort needed to ensure positive outcomes.
Valuations in later life lending aren’t just about property value. They involve assessing long-term viability for products like lifetime mortgages or equity release. Unlike traditional mortgages, these require consideration of market trends, property condition, and the customer’s unique circumstances. The valuer serves both lenders, ensuring financial products are appropriate and homeowners, providing reliable insights to help inform their future decisions.
What sets this sector apart is the focus on customer sensitivities. Older homeowners may face vulnerabilities due to age, health, or emotional ties to their property. Countrywide Surveying Services equips its valuers to handle these situations empathetically, offering training to recognise and address potential issues. Brokers also play a key role in supporting customers and facilitating clear communication.
By fostering collaboration among valuers, brokers, and lenders, Countrywide ensures valuations contribute to a transparent and holistic approach, which helps deliver good overall customer outcomes.
