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Hometrack expands partnership with Paragon

By Tom Parker on 24 February 2021

Paragon has worked with Hometrack since 2014 and the expanded agreement means Hometrack will provide Paragon with its Automated Valuation Model and Rental Value Model services for portfolio valuation.

Hometrack, the leading provider of AVMs and portfolio insight to the UK property market, has successfully expanded its relationship with Paragon Bank, one of the UK’s leading specialist financial services companies, providing buy-to-let, residential and second charge mortgages. Hometrack has been a trusted partner of Paragon since 2014 and the expanded agreement means Hometrack will provide Paragon with its Automated Valuation Model (AVM) and Rental Value Model services for portfolio valuation.

Expanding the use of AVMs to portfolio valuation will provide Paragon with a step change in risk management and enable them to explore the benefits in portfolio risk management, customer management, provisioning, capital and stress testing.

Commenting on the appointment David Ross, Managing Director of Hometrack, said:

“As the market increases its focus on risk, the need for accurate portfolio valuation has never been more important. Increased exposure to property and customer risk, combined with changing house price trends, increases the need for a robust, accurate and property-level valuation and assessment. We are delighted the team at Paragon has again chosen Hometrack to be a trusted partner and we look forward to working with Paragon as it continues to grow and help more homeowners achieve their goals.”

Niall Jamieson, Credit Risk Director, Paragon, said:

“Hometrack is a natural partner for Paragon and this expanded relationship will give us even greater insight into the factors that may influence portfolio performance, particularly given the fluidity of today’s housing market. ”

Hometrack is the leading providing of automated valuations and property insight and is trusted by many major mortgage lenders. Hometrack is part of Zoopla and benefits from a wealth of property insight and data.

Paragon is a specialist banking group, offering a range of savings and specialist lending products to individuals and SMEs in the UK. It specialises in lending to Portfolio buy-to-let landlords and small-to-medium sized house builders, as well as SMEs across a range of sectors.

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