Property Monitor, a market leader in property valuation, real estate data intelligence, and provider of automation solutions has inked a strategic partnership with UAE’s leading expert in online mortgage brokerage Holo.
The partnership is aimed at providing home finance customers with an instant and accurate valuation of the property they are looking to buy.
The latest partnership marks an important milestone in the advancement of the digital mortgage journey by allowing Holo customers to leverage Property Monitor’s recently launched automated valuation model (AVM), ‘valCheck’.
valCheck will enable Holo customers to make more informed decisions and it will also facilitate a faster mortgage application process.
Speaking on the venture, Zhann Jochinke, COO of Property Monitor, mentioned that integration of the company’s AVM into Holo’s platform will offer a data-driven, and unbiased estimate of a property’s value to homebuyers at an early stage of the mortgage application process.
Michael Hunter, CEO of Holo, stated that with the advanced integration of the AVM model across its platforms will offer a value add to Holo’s clients from identifying property price before purchase, which will protect them against unexpectedly lower valuations and prevent them from potentially losing their deposit.
With this, the AVM puts home buyers in a stronger position to effectively negotiate the purchase price or bridge the gap with the purchase price themselves, by committing to a relatively higher down payment.
This advanced mortgage system is not only beneficial for the client but also for the lender, ensuring a considerable reduction in resubmissions, which will accelerate accuracy and efficiency in the mortgage journey.
The primary objective of valCheck is to deliver fast, reliable and affordable information to homebuyers and serve lenders with a quality check on submissions.
Beyond this, the AVM will also accelerate approvals and ensure accuracy when completing fact findings along with data applications for mortgages and ultimately boost the mortgage journey as a whole.