Hometrack AVM / non-RICS valuation exception

Integer may accept a Hometrack AVM or digital valuation instead of a RICS valuation only as a controlled exception. It should not be the default valuation route.

Hometrack may be acceptable only where all of the following apply:

• The borrower is a repeat Integer borrower with a clean repayment record, or an experienced property investor with a clearly evidenced track record.
• The property is a standard residential house or flat in England or Wales.
• The property is in an active, liquid market with strong comparable evidence (e.g. no remote areas).
• The total loan value is below £200,000.
• The loan is conservative. Lending should be capped at the lower of purchase price and Hometrack value, and should not exceed 70% LTV.
• Hometrack provides a high-confidence result (6 or more), with no material uncertainty, no wide valuation range (>10%), and no indication that the property cannot be reliably valued by the AVM.
• The Hometrack value is consistent with the purchase price, broker view, online listing evidence, and local comparables. A variance of more than 10% should normally trigger a RICS valuation or credit escalation.
• The transaction does not rely materially on refurbishment uplift, planning uplift, conversion, HMO use, title split, commercial use, or GDV.
• The borrower provides sufficient supporting evidence, including the sales memorandum, listing, floorplan, videos and photos, proposed use, and any refurbishment budget if minor works are planned.
• Integer is satisfied from legal due diligence that there are no obvious title, lease, access, occupancy, cladding, building safety, construction, environmental, or enforceability issues.

Hometrack should not be accepted where any of the following apply:

• First-time borrower with no meaningful property investment track record.
• Higher leverage lending.
• Property value above £200,000, unless approved by credit committee.
• HMOs, multi-unit blocks, mixed-use assets, commercial property, short leases, unusual construction, rural/illiquid assets, ex-local authority high-rise flats, probate/distressed-sale complexity, or properties with known condition issues.
• Heavy refurbishment, development, conversion, title split, planning dependency, or any case where the exit depends on GDV or as-completed value.
• Low Hometrack confidence, wide valuation range, insufficient comparables, or material mismatch between Hometrack and transaction evidence.
• Any case where the credit decision depends on matters that an AVM cannot verify, including internal condition, defects, layout, marketability, occupational status, or lender enforceability risks.

Integer retains the right to require a RICS valuation at any point before drawdown.