The 3PS system comprises a secure online facility designed to match the lender’s requirements with an appropriate surveyor.
Our banking clients can identify their own panel of surveyors, or 3PS can provide national coverage through our own existing panel of chartered surveyors and RICS Registered Valuers.
Instructions are filtered by our secure online system to find an appropriate Surveyor who can respond within an agreed SLA to provide valuations.
Instructing a valuation through the 3PS system creates an independent instruction through an approved panel. Instructions are then monitored for speed of process with reports available to show workflow.
We operate a bespoke portal which can be accessed by the bank, the broker, the 3PS management team and the valuer.
Here’s how the process works…
Instructions are entered on to the system by the broker or the bank, and notification is triggered to our management team.
The instruction is filtered according to location, property type, valuation level and professional indemnity insurance cover.
Available valuers are displayed for the 3PS management team to see, along with their recent performance data.
3PS appoints the most suitable valuer to process the instruction in the timeliest manner. Bank employees cannot influence the choice of a valuer, meaning truly independent valuations are produced.
Instructions are issued to the valuer, who can then log on to the portal to accept the job and find out the details.
Daily reminders are issued to each firm, identifying outstanding reports. A combined daily workflow report can also be issued to the bank.
The valuer sends their completed report to 3PS, and we forward it to the bank.
3PS also audits the report to ensure it is of the required professional standard. A copy of the audit is also issued to the bank.
The 3PS system offers an extension range of vital management information to help your business run smoothly
Our online portal gives you the information you need at your fingertips, and is fully secure.
The system is designed to be flexible, so that any bespoke requirements can be met.
Through the portal, our clients can identify the firms they wish to appoint to their panels.
The system enables 3PS to assign each case to a valuer on the panel against a set fee structure, based on their availability and recent performance.
This means we can make a truly independent decision about who to appoint for each instruction in line with our clients’ requirements.
Clients have secure access to live management information about how valuations are progressing, which valuer is undertaking the work and from which company, when they are inspecting, and a date for the expected delivery of their report.
Management information is also available that allows the bank or other lender to identify its exposure to property types in each area of the country, how much work has been undertaken by each firm on its panel and by each surveyor.