New eligibility checker from Experian and The New Homes Group removes doubt for shared ownership homebuyers

Service will help brokers match people with lenders most likely to offer them a mortgage

16 March 2021: Brokers can now quickly understand which lenders will accept their customers for a shared ownership mortgage using a new service from Experian and The New Homes Group.

Shared ownership is the latest scheme to be added to Experian’s pre-qualification eligibility panel. The government’s rules and affordability calculation are included in the check, so brokers will quickly qualify the customer with more confidence that the lender will accept them. This allows more time to provide advice and guidance for customers looking for a non-standard mortgage deal.

The new £11.5 billion Affordable Homes Programme runs from 2021 to 2026 and will deliver up to 180,000 homes across the UK, generating more demand for shared ownership. Brokers will need to have the best tools available to guide new home buyers in finding affordable mortgages.

Lisa Fretwell, Managing Director of Data Services at Experian UK&I, said: “Getting on the property ladder is an exciting moment in anyone’s life, yet the path leading up to receiving your keys can be daunting. We’ve worked with The New Homes Group to make the shared ownership mortgage application process that little bit easier for brokers and their customers alike. It’s the perfect time for this service as the UK ramps up its delivery of affordable homes.”

Terry Higgins, Group Managing Director for New Build Mortgage Services at The New Homes Group, said: “We’re keen to do more to support aspiring homeowners as the UK invests billions in affordable homes. The New Homes Group has over 30 years of new build expertise and the local knowledge required to support people on their journey to owning a new home. This technology will help people find the best shared ownership mortgages they qualify for. On the way, they’ll get expert support and advice, right up to moving day.”

Skipton Building Society and three other lenders are on the panel to launch the service, while others are in talks to join over the coming months.

Alex Beavis, Head of Mortgages at Skipton Building Society, said: “We’re delighted to see Shared Ownership added to the Experian eligibility checking service.  As mutual, we aspire to promote and enable homeownership in all forms, believing that Shared Ownership provides a much-needed bridge for aspiring homeowners in the private rented sector to migrate into the security of mortgaged homeownership.   We’re also keen supporters of new technology, and this enhancement to the Experian pre-qualification service will improve both the customer and broker experience for new Shared Owners.”

-ENDS-

 

Media contact:

Joe Green, PR Manager, Corporate & Business, UK&I, Experian

Tel: +44 7812 737 768 / Email: joseph.green@experan.com

Brands2Life for Experian

experian@brands2life.com

About Experian

Experian is the world’s leading global information services company. During life’s big moments – from buying a home or a car, to sending a child to college, to growing a business by connecting with new customers – we empower consumers and our clients to manage their data with confidence. We help individuals to take financial control and access financial services, businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organisations to prevent identity fraud and crime.

We have 17,800 people operating across 45 countries and every day we’re investing in new technologies, talented people and innovation to help all our clients maximise every opportunity. We are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index.

Learn more at www.experianplc.com or visit our global content hub at our global news blog for the latest news and insights from the Group.

About The New Homes Group

The New Homes Group has the enviable reputation of being the UK’s leading new homes specialist in the UK.

Through our individual brands we specialise in facilitating the sales of new homes working closely with housebuilders, lenders and a nationwide network of estate agents.  Offering a wide range of Mortgage Services and a leading Part Exchange and Assisted Move Service, we work with most of the top 25 volume housebuilders and many regional housebuilders.

We pride ourselves on a specialist knowledge of the new homes market and understand the commercial realities facing housebuilders, whether in a challenging or buoyant market.  We also understand the needs of potential buyers and fully appreciative of the urgency of timescales involved.

As for our experience, we celebrate over 30 years of trading during which we have developed an enviable reputation for delivering the highest standards of services to our housebuilder clients and their customers and proud of our 5 star rating on Trustpilot.

We currently employ over 500 employees who share a commitment to excellence.  We invest heavily in staff training, we have a positive corporate culture which rewards personal effectiveness and offers opportunities for continuing professional development.

The New Homes Group with a national coverage operates through the following brands: New Homes Mortgage Helpline, Torc24, New Homes Mortgage Scotland and IMH.