Pepper Money adds Hometrack’s AVMs to offering

Pepper Money adds Hometrack’s AVMs to offering

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.”