Foundation Home Loans has appointed Hometrack to provide Automated Valuation Model (AVM) services for its portfolio of buy-to-let clients.
The property analytics business will support Foundation Home Loans over the next three years in analysing portfolios of residential properties using its buy-to-let AVM. The service enables lenders to accurately measure the value of a portfolio, asset by asset, for trading, asset management or risk management purposes.
Jeff Knight, director of marketing at Foundation Home Loans, said: “The recent changes within the market are a good thing and provide opportunities for intermediaries and lenders like ourselves. To this end, we are enhancing our market by partnering with Hometrack. They lead the way when it comes to AVM portfolio services, residential property analytics, insight and data.
“We are delighted to have selected Hometrack as our preferred partner and look forward to working closely with the team over the coming years.”
Andrew Vaughan, head of mortgage origination solutions at Hometrack, added: “To be able to improve collateral and asset valuation, stress-test portfolios and effectively manage risk, lenders require accurate, individual property valuations. Our buy-to-let AVM will provide Foundation Home Loans with confidence that they have a clear picture of each property’s capital value and rental income.
“At the same time, we will endeavour to help streamline the company’s valuation process and subsequently improve the experience for its customers.”