The contract includes increased use of Hometrack’s AVM at origination product, which lowers costs for lenders and speeds up approval times, within Leeds Building Society’s policy and criteria requirements.
The mutual will also continue to use Hometrack’s climate change insights to identify risks on its mortgage portfolio and at origination, which helps the firm’s journey to net zero and compliance with regulatory requirements.
Hometrack will also work with Leeds Building Society to further expand the use of its products to support its “ambitious lending growth plans” in the near future.
Rory Marsden, chief operating officer at Hometrack, said: “We’re pleased to build on our long-term relationship with Leeds Building Society with this extension of our partnership.
“Leeds Building Society has been a real advocate of our core offering and paved the way as the first UK lender to adopt our live EPC data solution. I look forward to working closely with the team in coming months and years.”
Andy Mellor, chief risk officer of Leeds Building Society, commented: “We’re pleased to extend and build on our Hometrack relationship for use of automated valuations, which supports Leeds Building Society in continuing to innovate and improve customer experience and offer turnaround times.
“Since we began using the climate change insights product, we have been able to improve our EPC data collection. Nearly 90% of the applications we receive now include these data points, supporting better, more informed and faster long-term lending decisions.”
