The data will be useful in making safer and more cost-effective mortgage risk decisions
Leeds Building Society has adopted Hometrack’s new energy performance certificate (EPC) data solution, which provides up-to-date EPC data available in the market.
As its first customer, the mutual be able will use the data solution to influence its underwriting against energy efficiency, broader ESG, and ultimately, loan-to-value criteria considerations.
Accessing the latest EPC rating for every property in England, Wales, and Northern Ireland, and providing instant access to the actual energy performance certificates, the solution is available as part of Hometrack’s Property Risk Hub, where it can be combined with other property-related data attributes and risk criteria to enable lenders to make an instant decision.
According to Hometrack, the growing focus on the energy performance of properties has made EPC data and automated decisioning more important for lenders when it comes to origination and valuations in the years to come.
“We’re excited to partner with Leeds Building Society to expand their digital capability to help inform decision-making at origination,” said George Robbins (pictured), vice president of commercial at Hometrack. “It’s wonderful to see Leeds Building Society leading the way when it comes to using EPC data to enable safe and cost-effective risk-based decisions.
“We look forward to working with them to help drive a faster time to ‘yes’ for consumers.”
Andy Mellor, chief risk officer at Leeds Building Society, added that the partnership would enable them to make better and faster decisions for the customer.
‘’It’s great that Hometrack is able to support us to further streamline the lending experience with real time EPC data, where it is available,” Mellor said. “The partnership demonstrates a recognition of the tangible benefit the most energy efficient homes deliver to the environment and the future of the planet, as well as supporting our responsible business strategy.”
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