As part of the mutual’s transformation journey, it will introduce Cotality’s automated valuation model (AVM) service, Energy Performance Certificate (EPC) data and energy-efficiency insights for residential properties into its Lender Hub platform.
Yorkshire Building Society aims to enhance its digital processes and sustainability strategy by implementing real-time property valuations and energy performance information.
The mutual expects this change to result in smarter, faster lending decisions that meet the needs of its borrowers and regulatory expectations around energy performance.
The AVM service uses advanced modelling techniques and market data to provide property valuations, with the aim of reducing the time to offer and the need for physical valuations.
The use of EPC ratings and energy performance insights will support the assessment of climate risk to aid with regulatory developments and help members understand and improve home efficiency.
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Simon Martin, director of credit risk at Yorkshire Building Society, said: “We are committed to making good homes possible for more people.
“By integrating Cotality’s Lender Hub for AVM and EPC data, we’re not only improving operational efficiency – we’re giving our teams the insight to make better decisions around affordability, property condition and long-term sustainability.”
Mark Blackwell, chief operating officer at Cotality, added: “Yorkshire Building Society understands that the future of lending is both digital and data-driven.
“We’re proud to support their journey with technology that brings accuracy, speed, and sustainability insight together – enabling more informed, more efficient and more effective lending.”
Last month, Yorkshire Building Society appointed Tom Simpson as its managing director of homes, alongside bringing together its three separate mortgage businesses.
