United Trust Bank becomes first lender to sign up to Open Property Data Association

Tolfree will sit on the member executive committee of the Open Property Data Association (OPDA). 

OPDA is a cross-industry trade association that aims to drive the creation and adoption of open property data to improve the home buying process. It was formed in June this year and is chaired by Maria Harris. 

As an executive member, UTB will give a lender technology and mortgage data perspective to the association to work towards developing future standards for specialist lending. 

Harris (pictured), chair of OPDA, said: “Announcing our first lender is an exciting and important milestone for the association. As we move towards upfront information becoming mandatory on property listings, ensuring that data is collected digitally and can be shared in a trust way with intermediaries and mortgage lenders will be critical for improving the whole process. 

“UTB’s approach to innovative thinking and the use of technology to create better experiences for their intermediaries and customers is well recognised across the industry so I’m delighted they’ve joined us at this pivotal time.” 

Tolfree added: “UTB has a reputation as one of the market’s leading specialist banks, and as such we welcome enhancements that simplify the application process for our brokers and customers and help mitigate credit and commercial risk.  

“Joining the OPDA, and being involved in opening up some of the traditional data-borders that have existed in the past, is therefore an easy decision to make.”