The tool integrates up-to-date EPC information directly into lenders’ systems, offering an advantage over traditional monthly text file downloads from the DLUHC, which are typically one to two months behind
Property insights firm CLSQ has launched LiveEPC, a new solution designed to provide UK mortgage lenders with access to EPC data.
The tool integrates up-to-date EPC information directly into lenders’ systems, offering an advantage over traditional monthly text file downloads from the DLUHC, which are typically one to two months behind.
LiveEPC enables lenders to automate processes and access data as soon as it is available, facilitating automated mortgage decision-making.
The EPC rating of a property is becoming an increasingly important element of lending decisions and back book analysis and while lenders can access batch data from the Department for Levelling Up, Housing and Communities, this can be a time-consuming process and is a month or two behind, according to Lorenzo Tejada-Orrell, chief innovation officer at CLSQ.
LiveEPC brings an end to these issues – with real-time data designed for easy integration with mortgage lenders’ existing systems through a robust API. This seamless integration of live EPC data can empower lenders to make better informed decisions, more quickly and more efficiently – and, ultimately, this will benefit everyone in the process, he added.
In a related development, mortgage broker Green Mortgages has partnered with Propflo to introduce GreenVal, a one-stop-shop for green home improvements.
With £250 billion needed to bring UK properties up to standard and 80,000 homes requiring retrofitting each month, Green Mortgages GreenVal aims to address what was termed a disjointed and information-lacking current process.
The tool enables customers to view benefits and costs of energy-efficient upgrades, obtain quotes from accredited suppliers, explore low-cost improvements, and understand the impact on personal wellbeing.
The green mortgage market has grown from a handful of products to more than 60 today, and we know that many lenders are gearing up to launch innovative green finance products over the coming months and years, according to Michael Kallaras, MD of Green Mortgages.
With our expertise being now supported by the Propflo platform we will be in a strong position to provide our customers with significant added value, he added.
