Hometrack has launched a broker Automated Valuation Model (AVM), serving 17 of the top 20 UK mortgage lenders.
It has been designed to deliver a quality check on submissions to lenders, and assist brokers when completing fact-finds, mortgage applications and when quoting or applying for home insurance.
The broker AVM requires the address and postcode or the unique property reference number of any given property in order to return results to brokers.
George Robbins, VP commercial at Hometrack, said: “The Broker AVM is entirely unique in its offering.
“Typically, brokers rely on customers providing property details, which are often inaccurate and can include unrealistic valuations that result in delays and rework.
“This tailored solution helps brokers pre-screen customer estimates of a property’s value and provides more accurate pre-populated property data – reducing erroneous submissions and ultimately delivering a faster time to yes for mortgage applications.
“Broker AVM also ensures consistency throughout the entire mortgage lifecycle; providing key insight as a customer approaches the end of an existing deal and can improve retention significantly.
“Ultimately the Broker AVM represents exponential benefits – across cost, time, and accuracy.”