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Hometrack appointed by Foundation Home Loans

On 10 October, 2017

Hometrack has been appointed by Foundation Home Loans to provide Automated Valuation Model (AVM) services for its portfolio of Buy to Let (BTL) clients.

Hometrack has been appointed by Foundation Home Loans to provide Automated Valuation Model (AVM) services for its portfolio of Buy to Let (BTL) clients.

The property analytics business will support Foundation Home Loans over the next three years in analysing portfolios of residential properties using its BTL AVM. The service enables lenders to accurately measure the value of a portfolio, asset by asset, for trading, asset management or risk management purposes.

Foundation Home Loans is committed to providing fast, cost-effective and accurate valuations. The introduction of new PRA underwriting standards for BTL landlords, which came into effect in September, has enshrined these values as regulatory standards and made that commitment more important than ever. 

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. To this end, we are enhancing our market by partnering with Hometrack. They lead the way when it comes to AVM portfolio services, residential property analytics, insight and data. 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. Our BTL AVM will provide Foundation Home Loans with confidence that they have a clear picture of each property’s capital value and rental income. At the same time, we will endeavour to help streamline the company’s valuation process and subsequently improve the experience for its customers.”

 

David Catt, Chief Operation Officer, Hometrack

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