Experian has launched an automated property valuations (APV) service designed to provide lenders with instant access to property valuations at the same time as they receive a credit report.
The credit reference agency says the new platform will shorten house-buying times by up to a week by providing credit risk and property value information at the same time. The APV service has been built specifically for the risk assessment process in secured lending, allowing lenders to avoid site surveys and therefore speed up their decisions at the point of application and make better-informed lending decisions. Experian’s APV service works by drawing on comparable data from a variety of databases, including Land Registry data, surveyor valuations, census and lifestyle data. Peter Bro...
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