Tuesday, April 04, 2017
HSBC has signed a one-year contract extension with property analytics business Hometrack, securing the delivery of valuation and risk services for a twelfth consecutive year.
Hometrack will continue to supply HSBC with an extensive range of Automated Valuation Model (AVM) risk services implemented across its retail risk and mortgage team.
These will include AVM usage at origination, point of sale, surveyor audit, fraud detection, portfolio management and risk assessment. In addition, HSBC will now also benefit from a valuation audit tool and analysis of rental values across its BTL portfolio.
David Catt, Chief Operating Officer, Hometrack said, “We are extremely proud of the relationships that we have with our clients and are delighted that HSBC has yet again decided to select us as its preferred valuation and risk services partner. There is no greater endorsement for the work that we do and the intelligence that we provide to clients. We have worked closely with HSBC’s retail and mortgage team for more than a decade and look forward to continuing this partnership into 2018.”
Tracie Pearce, Head of Secured Lending, HSBC added, “Getting the right data and insight is invaluable to our retail and mortgage teams, it informs our understanding of collateral risk, increases the efficiency of our mortgage approval service and helps identify new opportunities. We are pleased to announce that Hometrack will be working with us for a twelfth successive year.”
Hometrack is part of ZPG plc, owner of some of the UK’s most trusted digital platforms including Zoopla, uSwitch, PrimeLocation and Property Software Group.
About Hometrack (www.hometrack.com)
Established in 1999, Hometrack is the UK’s #1 automated valuation model (“AVM”) provider and one of the leading AVM providers in Australia, generating over 20 million automated property valuations per annum. Hometrack provides residential property market insights, analytics, valuations and data services to over 400 partners including mortgage lenders, new home developers, investors, housing associations and local authorities.
Hometrack currently partners with 15 of the top 20 mortgage lenders in the UK as well as all 4 leading Australian mortgage lenders and its UK AVM is recognised by all major ratings agencies.