Membership will provide insight on delays to reduce friction for brokers
Buy-to-let specialist lender Fleet Mortgage has become the latest member of the Open Property Data Association (OPDA), which is working to improve the homemoving process with open and standardised data sharing.
It comes alongside investment by the mortgage company, which is owned by Starling Bank, in new technology and data capabilities to help enhance its service for brokers and customers.
Promoting a joined-up approach
The OPDA is working to reduce inefficiencies, improve decision-making and support a more joined-up approach across lenders, brokers, conveyancers and valuers.
Toni Coulson, data insights director for Fleet Mortgages, said: “Joining the OPDA comes at exactly the right time for Fleet. As we invest in our technology and data capabilities, we’re in a much stronger position to play a proactive role in shaping the future of the mortgage and homebuying process.
“As a lender, we have deep insight into where delays occur and how data could be used more effectively to streamline decision-making and reduce friction for brokers and customers alike.
“However, for this to succeed, the industry must remain focused on the end customer and for Fleet particularly, keeping sight of the critical role of the broker. Any move towards greater data sharing has to deliver a clear and tangible benefit – whether that’s saving time, reducing complexity or removing the need for repetitive admin.”
OPDA chair Maria Harris said: “Fleet will bring valuable insight to our work, particularly around how property and finance data can be used to streamline mortgage origination processes and improve the journey from offer to completion.”
