"Hometrack’s AVM underpins our loan decision process for selected remortgage applications"
The bank first partnered with Hometrack in 2015 and has been using its automated and risk services to help enhance the service offered to customers and intermediaries.
Hometrack launched its AVM in 2002 and uses proprietary data and algorithms to provide its automated valuation tool.
Virgin Money’s director of mortgages, Andrew Asaam, said: “Hometrack’s AVM underpins our loan decision process for selected remortgage applications, helping to ensure we provide an efficient and high-quality service to our customers and intermediary partners.
“We look forward to continuing our relationship with Hometrack over the next three years.”
Piero Bassu, director of financial services and capital markets at Hometrack, said: “We are delighted to continue working with Virgin Money and look forward to building on our partnership. By integrating our AVM into their existing processes Virgin Money has been able to drive efficiency through its credit valuation strategy which complements their overall award-winning proposition.”
