17 juli 2007 | bron: International press release
ABF VALUATION AND HOMETRACK SIGN STRATEGIC ALLIANCE
ABF Valuation and Hometrack, the UK's leading provider of AVMs (Automated property valuation models), take a first step towards international market development by signing a long-term strategic alliance. High Street lenders representing over 90% of the UK mortgage market currently use the Hometrack AVM to support lending decisions and to value large portfolios of residential property.
The alliance will allow for the sharing of technology and resources, while helping to boost the client base for both parties. ABF, which has a similar AVM model to Hometrack, has adapted its confidence level structure for AVMs in line with Hometrack. Through such alliances Hometrack and ABF aim to promote an international and universal benchmark for confidence levels, competence and reliability.
David Catt, Chief Operating Officer at Hometrack, comments: "We are delighted to announce this alliance with ABF. This strategic move paves the way for establishing an international benchmark for AVM users, helping global and regional lenders adopt similar systems in different countries with greater ease and reliability. The UK has one of the most dynamic and sophisticated property markets in the world and with 90% of UK's lenders using Hometrack's model, we are now well placed to continue to develop opportunities overseas."
Evert Van De Wauwer, Chief Executive of ABF Valuation comments: "As the leader in AVM technology in The Netherlands, ABF Valuation is pleased to join forces in this alliance with Hometrack. The mutual sharing of AVM technology and application will provide ABF and Hometrack with significant advantage in the mortgage, risk and capital markets arenas. We will for instance be able to provide our current and future clients with valuable long term user information, since the leading U.K. financial service providers have been using the Hometrack AVM solutions for a long time now."