Advantage selects Hometrack as AVM provider

Advantage has assigned Hometrack to provide free instant property valuations through its online mortgage sourcing system.

The appointment is part of the lenders drive to improve its service levels to mortgage customers following a meltdown earlier this year.

Advantage hopes the technology, which is available for both purchase and remortgage qualifying cases, will enable it to further streamline its processing of mortgage applications for decisions in principle.

David Catt, commercial director of Hometrack, says: The intermediary mortgage market has evolved to the point where advisers are demanding the same tools that lenders use. This benefits everyone, not least the advisors client who will be given better informed advice.

Through instant online valuations, advisers can help their clients understand the valuation a mortgage lender may place on their property, have greater confidence that the mortgage application will be accepted and even use the automated valuation model as a negotiation tool when making an offer on a property.

Keith Dearling, managing director of Advantage, adds: The integration of AVMs will help cut down on the superfluous paperwork and result in added value for intermediaries.

It is about giving them an additional tool to save time and money.

This latest IT upgrade is further evidence of our commitment to invest in our infrastructure and make sure we are a leader in the mortgage sector.