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Hometrack has won a contract to supply automated valuation and risk tools to specialist lender InterBay Commercial in support of its buy to let lending business.
Hometrack’s tools will be used by and compliment the work of InterBay Commercial’s chartered surveyor valuation and audit team.
InterBay Commercial, a wholly owned subsidiary of OneSavings Bank plc, has been operating in the commercial mortgage markets since 2006 but has recently moved into the residential buy to let lending space.
Commenting on the three year contract, David Catt, COO of Hometrack said: “InterBay Commercial is one of a number of specialist lenders we’re currently working with who need fast access to accurate, reliable housing market intelligence and risk tools. We are delighted to be working with them.”
Neil Richardson, Real Estate Director of InterBay Commercial added; “InterBay Commercial aims to deliver the best service possible for its key partners and we believe that Hometrack can help us achieve this by providing an efficient and useful tool for our Real Estate department to assess properties. Our service is something InterBay is commended for above our competition and Hometrack assists us in delivering the best service we can.”
Latest House Price Index reveals that the recent Budget stimulated an +80% spike in buyer demand for property compared to the four year average.
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.
Acquisition will help Hometrack reach its vision faster and in a more comprehensive way. Hometrack will also welcome a team of experts from EDM to Hometrack who will play an important role as Hometrack's business continues to grow in the months and years to come.
Hometrack, the leading provider of insight and intelligence to the mortgage market, has announced an industry-first partnership with Ambiental and Terrafirma, two leading UK climatology specialists, to deliver a leading climate change risk solution for mortgage lenders.