Lenders traditionally support decisions on property secured loans by instructing a property valuation. However AVM use for residential loan decisions has grown rapidly in the UK and elsewhere, altering demand for traditional valuation services (Downie & Robson, 2007). This paper analyses policy options for the UK valuersí professional body, the RICS, in response to AVM use. It is based on research funded by the RICS Education Trust and Residential Faculty, commencing with interviews and a survey examining valuersí changing roles in residential loan valuation in the UK, including the use of AVMs. The online survey provided a self-selected sample giving unique evidence of valuersí involvement with and attitudes to AVMs. It shows that a small number used AVMs at a high level, including advising credit risk managers on policy for AVM use. However, a majority had no experience of AVMs but were receptive to using them to enhance their service to clients. Subsequent interviews with lenders explored their choices between different valuation and survey levels, including AVMs. It further explored the roles of valuers in supporting credit risk management, including AVM policy, and fulfilling the requirements of Basel 2 for loan valuations as interpreted by the UK FSA (FSA, 2006, 2007). Lenders and valuers using AVMs reflected on possible professional body policy for regulation or guidance of valuersí AVM use and advice to borrowers and lenders. The paper analyses possible approaches to advice, guidance and regulation of AVM use by the UK professional body, drawing on the survey and interview results together with a review of other countriesí professional body responses to AVMs.