WhenFresh has been working in property data since 2012 with key data partners, including Zoopla Property Group and Land Registry. By applying data science techniques, it had developed a range of residential property-based data solutions, initially focused on home movers for clients offering mortgages, insurance, home moving services, utility switching and the like. These solutions were offered to market via resellers or under white label.
Following a funding round in 2016 from a significant property data owner, the data science and technical teams were strengthened. By 2021, this allowed WhenFresh to develop its new UK property data supermarket API which is now delivering millions of data items daily to end-users.
This allows mortgage lenders to instantly screen applications against lending rules and filter out those who would never be approved, or mortgage brokers to take bespoke WhenFresh property valuations from the Twenty7Tec platform, reducing the number of questions customers need to answer and enabling them to place better candidates in front of their lending panels. Insurers are also able to reduce dramatically the number of questions they need to ask on home insurance applications.
As a next step, WhenFresh has now developed VERIFY AIVM (automated insured valuation model) which enables mortgage lenders to screen applications against pre-approved lending rules instantly, then triangulate the agreed sale profile against two separate, proprietary WhenFresh valuation models and an industry standard valuation model. Delivered in association with insurance from CLS/Munich Re, this is likely to unlock digital transformation of mortgage lending.
