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Santander has confirmed a three year extension to its valuation and risk services partnership with Hometrack, covering collateral risk management solutions including AVM modelling and ongoing portfolio valuations.
The latest licence agreement continues a fruitful 11 year relationship between the two businesses, stretching back to 2007.
Piero Bassu, Director of Financial Services and Capital Markets at Hometrack, said; “Hometrack and Santander have partnered for more than a decade, and we are delighted to be able to continue this relationship. The foundations for this long-standing partnership have been built on trust, high-quality service and strategic alignment, which have contributed to Santander’s mortgage proposition and wider collateral risk management.”
David House, Head of Residential Valuation at Santander, said: “Hometrack plays a key role in supporting Santander’s continued focus on enhancing the experience we provide to our mortgage customers. Santander is committed to improve consumers’ property journey, including through a speedier and more efficient mortgage application process. Our offering is underpinned by Hometrack’s AVM and collateral risk management solutions. We are very happy to be able to continue this relationship and look forward to another three years of working together with Hometrack.”
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.