Leeds BS and Hometrack sign long-term deal

Leeds Building Society has signed a long-term contract with Hometrack to use its Automated Valuation Models (AVMs) and climate change information.

The contract includes increased use of AVM’s Hometrack product at origination, which reduces costs for lenders and speeds approval times, in line with the requirements of Leeds Building Society policy and criteria.

Mutua will also continue to use Hometrack’s climate change information to identify risks across its mortgage portfolio and at origination, helping the firm on its journey to net zero and comply 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 are delighted to develop our long-term relationship with Leeds Building Society through this extension of our partnership.

“Leeds Building Society has been a real supporter of our core offering and led the way as the first UK lender to adopt our live EPC data solution. I look forward to working closely with the team in the coming months and years.”

Andy Mellor, director of risk at Leeds Building Society, commented: “We are delighted to extend and develop our relationship with Hometrack for the use of automated assessments, which support Leeds Building Society to continue to innovate and improve customer experience and delivery times .

“Since we started using the climate change statistics product, we have been able to improve our EPC data collection. Almost 90% of the applications we receive now include these data points, supporting better, more informed and faster long-term lending decisions.”