Hometrack signs 3-year deal with Virgin Money
Its Automated Valuation Model (AVM) is already utilised by eight of the UK’s top 10 mortgage lenders.
Peter Rogerson, Virgin Money’s mortgage director, said: “Hometrack’s experience in the AVM space is considerable and widely acknowledged.
“We were impressed by their insight, understanding and experience within the housing and lending markets.
“Utlising Hometrack AVMs on a small proportion of mortgages allows us to provide an improved service to our customers and intermediaries, whilst maintaining our responsible and affordable lending principles.
“We look forward to working with Hometrack more closely in the years ahead.”
Hometrack was founded in the UK in 1999 before expanding into Australia in 2007.
Charlie Bryant, Hometrack’s chief executive, said: “We are delighted to be working with Virgin Money following what was a competitive tender process.
“We know that our clients need a clear body of evidence on which to base their decisions and that we need to be able to demonstrate superior performance across all key selection metrics.
“Our services will provide Virgin Money with evidence and insight to help make informed business and strategy decisions about the residential property market.”