HSBC has agreed a one-year contract extension with property analytics business Hometrack, securing the delivery of valuation and risk services for a 12th consecutive year.
Hometrack will continue to supply HSBC with an extensive range of Automated Valuation Model (AVM) risk services implemented across its retail risk and mortgage team.
These will include AVM usage at origination, point of sale, surveyor audit, fraud detection, portfolio management and risk assessment. In addition, HSBC will now also benefit from a valuation audit tool and analysis of rental values across its buy-to-let portfolio.
David Catt, chief operating officer at Hometrack, said: “We are extremely proud of the relationships that we have with our clients and are delighted that HSBC has yet again decided to select us as its preferred valuation and risk services partner. There is no greater endorsement for the work that we do and the intelligence that we provide to clients.
“We have worked closely with HSBC’s retail and mortgage team for more than a decade and look forward to continuing this partnership into 2018.”
Tracie Pearce, head of secured lending at HSBC, added: “Getting the right data and insight is invaluable to our retail and mortgage teams, it informs our understanding of collateral risk, increases the efficiency of our mortgage approval service and helps identify new opportunities.
“We are pleased to announce that Hometrack will be working with us for a 12th successive year.”