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Landbay partners with property data provider WhenFresh to speed up underwriting

13th February 2024

13th February 2024: Buy-to-let lender Landbay has announced a new partnership with leading property data provider WhenFresh, a PriceHubble company, to assist and speed up its underwriting process.

WhenFresh brings together more than 200 proprietary, private and public datasets, including sources such as environmental, geographical and market data, to determine property attributes and risk.

WhenFresh data now assists Landbay in minimising risk and making informed decisions faster by building a complete picture of the property, which supports the latest range of automated valuation model (AVM) products.

Last month, Landbay became the first dedicated buy-to-let lender to integrate an automated valuation model to speed up offer times. During its extensive pilot, it found that it is on average, three times faster than a standard application and can also help reduce fees by on average £500.

Last month, Landbay became the first dedicated buy-to-let lender to integrate an automated valuation model to speed up offer times. During its extensive pilot, it found that it is on average, three times faster than a standard application and can also help reduce fees by on average £500.

AVMs are available on a new standalone range of five-year fixed-rate products, with a maximum property value of £750,000 at 70% loan-to-value (LTV). Rates start at 4.29% and are stressed at payrate, with Landbay’s variable fee structure also available for increased affordability.

Joel Vinnicombe, head of product at Landbay, said: “A key component to the success of using an AVM is additional robust, good quality data and we certainly have this through our partnership with WhenFresh. The strength and depth of their property data enables us to make those informed decisions very quickly and with real confidence.

“Landbay has always been a progressive lender, utilising technology and leading data providers to improve our service and inform our approach to lending. We are grateful for the team at WhenFresh and thank them for their expertise and ongoing support.”

Mark Cunningham, director & co-founder of WhenFresh, a PriceHubble company, states: “As the UK’s residential property data bureau, we are delighted to be playing our part in the launch of Landbay’s new AVM platform. When a lender wants to use more AVMs they need a data partner that can provide the right ancillary property data to make this a reality, so we are very proud to have supported Landbay’s journey to automated lending thus far, and to have helped them drive more value and to use a greater quantity of AVMs.

“With a shared passion for technology and innovation, we look forward to helping Landbay to continue to drive greater efficiencies to the buy-to-let mortgage process.”

WhenFresh Decisions-as-a-Service for Mortgage Lenders is a suite of 4 data-driven modules which enable mortgage lenders to make faster, better-informed property risk decisions through the full mortgage lifecycle, from origination through to book securitisation.

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About Landbay

Established in 2014, Landay is an award-winning mortgage platform, created in-house to support customers with better ways to buy-to-let. Landbay’s focus is on the broker and their clients.  It brings together the best people and partners, leveraging its data, technology and market expertise. 

Mortgage brokers who choose Landbay will find experts at the end of the line, smart technology designed for intermediary partners and fast decisions they can count on.

Landbay’s dedication to exceptional customer service, innovative technology and sustainable lending practices has been recognised with multiple prestigious awards and consistently high levels of customer satisfaction. Landbay is an FCA regulated company, a member of UK Finance and is based in London, UK. 

About WhenFresh, a PriceHubble company

WhenFresh is a leading supplier of data and related solutions to UK Mortgage Lenders, Insurers, Public Sector and other Big Data users and has established itself as the UK’s “Residential Property Data Bureau” by bringing together over 200 proprietary, private and public UK data sources in one place.

WhenFresh creates bespoke data-driven decision engines and Apps, as well as supplying a vast range of data ingredients such as property attribute, risk, peril, topological, geospatial, environmental, climate and market data to its clients for a wide range of applications.

WhenFresh has been awarded DataIQ’s “Data Enabling Solution of the Year” and the Insurance Times Gold supplier award for “Excellence in Technology”, as well as featuring prominently in a number of prestigious Top 50/100 FinTech & InsurTech reports.

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