Hometrack has announced that it will be joining forces with Twenty7Tec to provide mortgage advisors who use the CloudTwenty7 service access to its new automatic valuation model (AVM).
This AVM was launched by Hometrack as a way for advisors to sort through valuations before mortgage applications have been submitted. Available properties to buy that are part of the data ecosystem for Hometrack are all included within this automated system, and the idea is that it saves advisors from having to waste time asking their clients questions to help determine valuations before filing applications.
The property market analytics firm has stated that the model will help ensure the mortgage application process is faster and more reliable, as well as enabling greater accuracy on both mortgage and home insurance applications.
Speaking to Mortgage Solutions, Twenty7Tec’s Chief Executive, James Tucker, said that integrating this AVM into his company’s service would give advisors another simple way of getting information on available properties. He then added:
“We believe this can be invaluable in assisting advisors in ensuring that they find the right product for their client in the shortest possible time. We look forward to working with Hometrack to deliver other innovations that deliver real value to our users.”
George Robbins from Hometrack added that the AVM link-up with Twenty7Tec was part of its plan to reduce application times to minutes.
Following CeMAP training, mortgage advisors often deal with large numbers of applications, and technology that saves them time and effort is something that they will welcome.