Hometrack, the provider of automated property valuations and insights, has teamed up with CLSQ, a supplier of property data and data-driven insurance products. The two companies have announced a long-term partnership, aiming to exploit the power of their collective data and software to enhance mortgage lending decisions.
The partnership will closely work on providing best-in-class data and risk services such as Live EPC data and HM Land Registry title and tenure to lenders and brokers. Two high street mortgage lenders are already on board, with further property risk insights planned.
CLSQ boasts over 800 datasets, with 1.5bn data points covering more than 28m UK properties, all curated and interpreted as decision-ready data. Combined with Hometrack and its parent company, Zoopla Property Group’s own vast data, they will offer the most current, precise, address-matched data with the highest coverage available. By using these datasets along with Hometrack’s array of valuation and risk management products, the collaboration aims to advance data-driven decision-making for UK lenders and help them with risk management.
As part of the alliance, Hometrack will use CLSQ’s API to ingest data into its Property Risk Hub. This will combine its sophisticated decision automation and triage capabilities with class-leading data, right out of the box. The result will be a more efficient management of mortgage lending decisions and a reduction in the time needed to provide customers with a positive decision and proceed with the home-buying process.
George Robbins, VP of Commercial at Hometrack, said: “CLSQ is a truly innovative business that we’ve long admired. We’re delighted to partner with them to improve our offering for lenders and encourage them to further improve their data-driven decision-making capabilities. This is only the beginning of our partnership with CLSQ, and I look forward to seeing the progress we can make together to further digitise the mortgage journey.”
Spencer Wyer, strategic development director at CLSQ, added: ‘’This is a brilliant partnership that empowers more instant mortgage decisions for Hometrack customers by combining Hometrack’s industry leading AVM and Property Risk Hub with CLSQ’s extensive curated property dataset. This is just the start of a partnership that I’m sure will see Hometrack and CLSQ innovate together to digitise the mortgage journey more than anyone has ever done before.”
