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Landbay partners with data provider WhenFresh

  • 13/02/2024
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Landbay partners with data provider WhenFresh
Buy-to-let lender Landbay has teamed up with WhenFresh to “assist and speed up its underwriting process”.

WhenFresh collates over 200 proprietary, private and public datasets, including sources such as environmental, geographical and market data, to determine property attributes and risk.

The data will assist Landbay in minimizing risk and making informed decisions faster by “building a complete picture of the property” supporting the latest range of automated valuation model (AVM) deals.

In January, Landbay incorporated AVMS to speed up offer times significantly which are available on its standalone range of five-year fixed rates with a maximum property value of £750,000 at 70 per cent loan to value (LTV).

Joel Vinnicombe, head of product at Landbay, said: “A key component to the success of using an AVM is additional robust, good quality data and we certainly have this through our partnership with WhenFresh. The strength and depth of its property data enables us to make those informed decisions very quickly and with real confidence.

“Landbay has always been a progressive lender, utilising technology and leading data providers to improve our service and inform our approach to lending. We are grateful for the team at WhenFresh and thank them for their expertise and ongoing support.”

Mark Cunningham, director and co-founder of WhenFresh, said: “As the UK’s residential property data bureau, WhenFresh provides API access to the data Landbay needs to instantly screen against lending rules and LTV criteria, to deliver what is effectively a digital decision in principle (DIP) on the property, in seconds.

“Flagging unsuitable properties right at the start of the origination process and looping them back to the brokers enables Landbay to provide a faster, better service and to avoid wasting time and money processing applications that would have failed at a later stage.

“We are delighted to be playing our part in the launch of Landbay’s new AVM and with a shared passion for technology and innovation, we look forward to supporting its efforts to bring greater efficiencies to the buy-to-let mortgage process.”

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