Hometrack has been appointed by Foundation Home Loans to provide Automated Valuation Model (AVM) services for its portfolio of buy-to-let clients.
The property analytics business will support Foundation Home Loans over the next three years in analysing portfolios of residential properties using its buy-to-let AVM.
Jeff Knight, director of marketing at Foundation Home Loans, said: “The recent changes within the market are a good thing and provide opportunities for intermediaries and lenders like ourselves.
“We are delighted to have selected Hometrack as our preferred partner and look forward to working closely with the team over the coming years.”
Andrew Vaughan, head of mortgage origination solutions at Hometrack, said: “To be able to improve collateral and asset valuation, stress-test portfolios and effectively manage risk, lenders require accurate, individual property valuations.”
The service enables lenders to measure the value of a portfolio, asset by asset for trading, asset management or risk management purposes.