The Open Property Data Association (OPDA) has announced the addition of L&C Mortgages as an association member.
By joining the OPDA, L&C is committing to digitisation of the process and providing even more transparency on property data during the mortgage journey.
Founded in June 2023, the independent industry body promotes the industry-wide adoption of open property data and technology standards. Smart property data based on common standards allows safe and secure access and sharing of trusted data and improves the homebuying and mortgage experience for consumers and industry professionals.
Association members have already delivered and implemented a property data schema and created the first version of on an industry-wide property data trust framework.
The OPDA is also shaping and contributing to work by the Digital Property Market Steering Group chaired by the Ministry of Housing, Communities, and Local Government, and with the Department for Business and Trade's Smart Data Council on digitising data at source, enabling reusable digital identity, and underpinning the trust and interoperability of smart data.
Adam Connolly, chief commercial officer at L&C Mortgages, said: “Our aim is to make the mortgage journey as smooth as possible for our customers but we know that the processes in the housing market need greater collaboration if we are to further evolve the speed and efficiency of the buying process. That’s why we are excited to join OPDA to add our weight and effort to the progress they have already made, establishing the standards that will ultimately drive a more joined up and digitised approach.”
Maria Harris, chair of the OPDA, commented: “This is a fantastic time to announce that L&C have joined us. The positive impact of reusable property, identity, and finance data in the mortgage advice and homebuying process is irrefutable. Having accurate and trustable smart data is paramount in creating consumer confidence and delivering certainty in the mortgage and property market. L&C joining us as we embark on the next steps for smart data and following the publication of our consumer survey report is excellent news and will enable their customers and lenders to access digital property data."
