Landbay has announced a new partnership with property data provider, WhenFresh, to assist and speed up its underwriting process.

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

WhenFresh data will now assist the buy-to-let (BTL) lender in minimising risk and making informed decisions faster by building a complete picture of the property, supporting the latest range of automated valuation model (AVM) products.

Director and co-founder of WhenFresh, Mark Cunningham, said: “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.”

"We are delighted to be playing our part in the launch of Landbay’s new AVM and with a shared passion for technology and innovation, we look forward to supporting their efforts to bring greater efficiencies to the BTL mortgage process."

Last month, Landbay became the first BTL lender to integrate an AVM to speed up offer times. During the pilot, it found that this is on average three times faster than a standard application and can also help reduce fees on average by £500.

Head of product at Landbay, Joel Vinnicombe, 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."

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