Specialist lender Pepper Money has added Hometrack’s automated valuation models (AVM) to its offering, in a bid to help speed up the customer mortgage journey.
It follows a successful pilot of the AVM, which allowed the lender to offer mortgages to customers within 24 hours after an application was submitted.
The AVM rollout will save time for Pepper Money as it reduces the need for physical valuations, so will lower costs.
Paul Adams (pictured), sales director at Pepper Money, said: “At Pepper Money, we are continually committed to enhancing the service we provide to our brokers, so that they can deliver a better experience to their customers.
“Expanding our use of AVMs enables us to streamline the application process of residential remortgages where the loan to value (LTV) and loan size allows, making it even easier for customers to access our award-winning specialist mortgages.”
George Robbins, vice president of commercial at Hometrack, said: “Delivering a faster time to yes for customer mortgage applications is the number one priority for most lenders, and the AVM drives towards just that.
“Furthermore, in removing the labour of a physical valuation, the AVM also saves lenders money as well as time. We are delighted that Pepper Money has signed up to Hometrack’s AVM services after a successful trial period, and we look forward to supporting them as they expand their journey into automation.”
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
