Valuer Acumentis to raise capital after loss, covenant breach

Listed valuation firm Acumentis, coming out of a tough first half in which it posted a loss and breached a bank loan covenant, says transaction volumes will jump this year when interest rates peak, and as a wave of homeowners refinances mortgages with expiring fixed rate terms.

“With more clarity over peak interest rates from the Reserve Bank of Australia and fixed mortgages coming off term, we see the potential for significant refinance volume flowing through within our residential mortgage valuation operations,” the company, led by chairman Keith Perrett and chief executive Tim Rabbitt, said.