Level 1

Question 1

What is VPGA 2?

Answer 1

Valuation Practice Guidance Applications
Secured lending and conflicts of interest
Involvement within last 2 years must be disclosed
Clearly stated valuer has introduced arrangement and in Terms of Engagement if a conflict is being managed

Question 2

What would be included in a Loan Security valuation report?

Answer 2

Minimum Valuation report requirements
Disclosure of involvement
extent of information accepted as MV
Environmental considerations
suitability for mortgage purposes
Circumstances valuer is aware could affect price
Any other factors that conflict definition of MV

Question 3

How did you ensure objective and independent advice?

Answer 3

followed VPGA 2
Regard to RICS Conflicts on interest PS 2017
Competence before undertaking
Conflict check in C&W and personal

Question 4

Why does the final decision lie with the lender?

Answer 4

I am not a financial expert so i can only comment on the asset and its suitability for security