HYPOFY will integrate on-geo's Baufime property valuation directly into its platform by the end of the year. This measure aims to accelerate the assessment of financeability, minimise valuation discrepancies, and create greater certainty early in the financing process. Brokers will thus receive a well-founded assessment of the property value early on, based on on-geo's established Lora values, which have been used for property valuations by banks for years.
The property value represents a central figure for every mortgage financing. In current practice, brokers and financing banks sometimes work with different valuation assumptions. Divergent property value assessments by the credit institution later in the process can necessitate queries, re-valuations, or an adjustment of the financing. The integration of the Baufime property valuation allows HYPOFY to intervene earlier in the process. Brokers can retrieve the property value directly within the platform and incorporate it into the financing assessment from the initial contact.
Since the valuation is based on Lora values and many banks also use these as a basis for valuation, brokers and credit institutions have a comparable data basis available from the outset. This is conceived under the guiding principle of 'One property. One value.' to reduce differing valuation assumptions between brokering and the bank as early as possible. Instead of identifying a diverging valuation only later in the credit process, brokers receive a valuation estimate based on established valuation data from the beginning, which increases the security of advice. Customers can thus be advised on a more robust basis, and the quality of information transmitted to the credit institution increases.
Benefits for all involved parties
Banks also benefit from this common data basis: better alignment of submitted information with the bank's valuation at the time of application can reduce the need for reconciliation and make the preparation of credit decisions more efficient. An additional system change for valuation is not required, as the Baufime property valuation is directly integrated into HYPOFY and is thus available where the financing is being processed. This leads to a closer integration of property valuation and financing at an early stage.
Fabian Sasse, founder and managing director of HYPOFY GmbH, stated that property valuation is essential for the terms of a financing. The aim is to provide brokers with reliable guidance early on and to create a valuation basis that is also familiar to banks, to promote transparency and avoid unnecessary loops in the financing process. Matthias Knabe, managing director of on-geo GmbH, explained that the integration brings two previously often separate steps – the initial assessment of financing and the valuation of the property – closer together. If brokers work with a data basis established in the banking environment early on, valuation discrepancies can be reduced and financing processes can be made more efficient.
HYPOFY is expanding its platform with this module, which not only increases the speed of valuation but also specifically focuses on the comparability of the underlying values. Brokers thus gain clarity earlier on one of the central figures of a financing, and banks benefit from higher data quality already at the application stage.
