The lender now adopts the Hometrack’s Property Risk Hub and Digital Valuer
Property insights provider Hometrack has announced an expanded partnership with Leeds Building Society to speed up mortgage journeys for the lender.
As part of the partnership, Leeds Building Society has implemented Hometrack’s Property Risk Hub, a one-stop software, data and decisioning platform that integrates fully into the lender’s operating system, underpinning the entire mortgage journey from decision in principle to completion.
It brings together automated modules such as Hometrack’s AVM and Digital Valuer to deliver real-time valuations, as well as trusted data sources on climate risk and energy efficiency to streamline the property risk process within a safe risk management framework.
Property Risk Hub, which Leeds will use alongside Hometrack’s live EPC data, can be implemented using a single integration, saving time for lenders and ensuring a single data provider can be used to make underwriting decisions.
“Property Risk Hub is a step change for lenders,” remarked George Robbins (pictured), commercial vice president at Hometrack. “It brings real-time data, analytics and logic to a process that has traditionally been heavily manual, repetitive, and often broken into long phases of waiting for the consumer. This doesn’t work for the consumer or the lender, so accelerating decisions with accurate, appropriate risk decisions is key.”
Commenting on the renewed partnership, Andy Mellor, chief risk officer at Leeds Building Society said their objective when deciding to integrate with Hometrack’s hub was to make faster and more accurate underwriting decisions.
“Being faster benefits the broker and customer, and the more accurate we are from a risk perspective, by having more relevant data, the better our underwriting decisions are,” he added.
“The single biggest advantage of Property Risk Hub is that it doesn’t matter what service we take from Hometrack, live EPC ratings, flood or ground erosion data, it all comes through the same connection.”Want to be regularly updated with mortgage news and features?
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