The AVM allows brokers to filter pre-application valuations, and includes a range of property attributed from Hometrack’s data lake and data ecosystem. This means brokers do not need to undergo time consuming questions with clients, which the firms say will save them time and effort.
According to Hometrack, the broker AVM will deliver a “fast, reliable and cost-effective quality check” on submissions to lenders, and the use of property data will ensure accuracy on fact finds, mortgage applications and quotes or applications for home insurance.
James Tucker, chief executive at Twenty7Tec, said: “The integration of the Hometrack Broker AVM with our CloudTwenty7 platform is intended to provide our users with another mechanism through which they can seamlessly access property data, and a unique AVM.
“We believe this can be invaluable in assisting advisers in ensuring that they find the right product for their client in the shortest possible time. We look forward to working with Hometrack to deliver other innovations that deliver real value to our users.”
George Robbins, vice president of commercial at Hometrack, said: “Our new partnership with Twenty7Tec has been designed to support their broker users as they verify estimated property values and obtain details of the subject property – reducing resubmissions, increasing accuracy and driving efficiency like never before.
“It also supports our broader strategy to see mortgages delivered in minutes, and helps to realise our vision for a digitised mortgage journey for lenders, brokers and consumers alike. We look forward to partnering on further innovation with Twenty7Tec in the near term, and to consolidating our relationship further.”
