Pepper Money, the award-winning specialty lender, has broadened its proposal to deliver best-in-class AVM functionality from Hometrack, the leading UK mortgage market intelligence and information provider, which will offer a faster turnaround time for acceptance of the consumer mortgage. journey.
The new service, which includes the deployment of automated Hometrack ratings, follows an initial pilot project led by Pepper Money, which enabled them to offer mortgages to clients within 24 hours of submitting an application.
Not only does the AVM deployment save Pepper Money time, but by reducing the need for physical evaluations, it also lowers costs.
Commenting on behalf of Pepper Money, Paul Adams, Director of Sales at Pepper Money, said, “At Pepper Money, we are continually committed to improving the service we provide to our brokers, so that they can provide a better experience for everyone. their clients. Expanding our use of AVMs allows us to streamline the residential mortgage application process when LTV and loan size permit, making it even easier for clients to access our award-winning specialty mortgages.
Commenting on getting a new client, George Robbins, vice president of business at Hometrack, said, “Providing a shorter time frame to respond to mortgage applications is the number one priority for most lenders, and the AVM contributes to this. In addition, by removing the work of a physical appraisal, AVM also saves lenders money and time. We are delighted that Pepper Money has subscribed to Hometrack’s AVM services after a successful trial period, and we look forward to supporting them as they move towards automation.