Key property insights to support optimised debt collection processes

Our Collections data enrichment services have been compiled to provide debt collections teams with key insights on properties and outgoings and include the following:

• Property Use — Validate whether the property has residential or commercial use.
• Multiple Occupancy — Does the property have multiple occupancy 3+ (HMO) family units?
• Social Housing — Is the occupant a social housing tenant?
• Dwelling Description — Type of dwelling, e.g. a detached house, a flat or just a room.
• Property Type — Type of property, e.g. a semi-detached house, terraced house or flat.
• Bedroom Count (1 to 5+) — How many bedrooms does the property have? Does the space match the reported number of family members or expected levels of household running costs?
• Council Tax Band — Confirmation of the Council tax band of the property.
• Likely Mortgage Bill (£ per month) — What is the estimated monthly mortgage payment for the property, for comparison with the amount that has been declared.
• Likely Rent Bill (£ per month) — What is the estimated monthly rental payment for the property, for comparison with the amount that has been declared.
• Likely Water Bill (£ per month) — What is the likely monthly expenditure on Water for the property, for comparison with the amount that has been declared.
• Likely Electricity Bill (£ per month) — What is the likely monthly expenditure on Electricity for the property, for comparison with the amount that has been declared.
• Likely Electricity Consumption (kWh pa) — What is the likely annual expenditure on Electricity for the property, for comparison with the amount that has been declared.
• Likely Gas Bill (£ per month) — What is the likely monthly expenditure on Gas for the property, for comparison with the amount that has been declared.
• Likely Gas Consumption (kWh pa) — What is the likely annual expenditure on Gas for the property, for comparison with the amount that has been declared.
• Likely Home Insurance Bill (£ per month) — What is the likely expenditure on home insurance for the property, for comparison with the amount that has been declared.
• Property Value: Virtual Survey Estimate (£) — How much is the property worth and how much equity could be available for recoveries activity?
• Property Value: EPM (£) — What price would the property be likely to achieve in a 90 day ‘fire sale’ and would it meet expected equity levels
• Rent Market Statistical Mode Price (£) — What is the estimated current rental price for the property, for comparison with the amount that has been declared.
• Rent Market Statistical Certainty — Indicates the degree of confidence/certainty of the estimated rental price.
• Rent Paid £ (at latest rental date) — The rent paid when the property was last rented, for comparison with the amount that has been declared.
• Date Property Last Listed as Rented — When was the property last rented, for comparison with the move-in date that has been declared.

There are 3 standard delivery options:

1. Flat-file data appendment. The client simply provides a file of addresses (PAF, Northings/Eastings, UPRN and other formats accepted) and PriceHubble appends the standard block of data items described above to each individual address, plus any additional data items the client may specify.
   
   
   
2. Live address lookups via our API. All the above data items are available for instant lookup via the PriceHubble API which provides a simple, plug-and-play integration via .NET NuGet. Data items can be called and charged on a pay-as-you-go basis, or a volume of lookups can be pre-agreed, in which case volume discounts can be applied. Integration is typically very straightforward, but our technical team can offer full support as needed.
   
   
   
3. Via a standalone app, tailored to client requirements. PriceHubble has developed an app platform whereby an app can be readily created to extract data from the PriceHubble API without integration. The client logs into the app and simply enters addresses to retrieve the information they need. The app can either simply display raw data related to the address, or can be set up as a decision engine, providing instant outcomes based on pre-agreed conditional logic.

Property valuations

Our property valuation solutions have a track record within the financial services and mortgage originations space.  Our valuation solutions have also been used in collections and recoveries valuations to support equity calculations for debt recovery and litigation assessment.

Our property valuation solution comprises two models to deliver increased accuracy and flexibility around application:

• Virtual Survey Estimate (VSM) – market value of the property
• Estimated Price Model (EPM) – 90-day fire sale value of the property
• Confidence measures
  
  

All of our valuation solutions are fully tested and have an accuracy rating of 99.4% accuracy, as compared to price-paid data at HM Land Registry.

Rental Value Solutions

Our rental valuation solutions are used by estate agents, lender buy-to-let assessment, yield and income calculations and central government fraud identification.  In the collections space rental solutions are used to assess and validate affordability.

Our rental valuation solutions use data from a number of sources including listings, landlord insurance and tenant vetting.

We have a dynamic pool of circa 3.5 million actual rents which is modelled using the same methodology as our sales valuation to provide full coverage over the UK and to keep historical rents up to date. Our rental value solution includes the following:

• Rent Paid
• Current Rental Valuation (Actual and Modelled)
• Historic Rental Valuation
• Confidence measures

Home movers and transactions

Our property transactional data and analytics are used to validate and identify changes in individuals’ circumstances, covering both house sales and rentals of up to 2 million moves per year in the UK. The data identifies home movers, tenure (owner or tenant) and transaction values. The information has been used in the collections environment to identify flight risk (pre-trace), void properties, council tax non-payment, landlord-driven fraud and tax liability within a number of local and central government applications.

Property attributes and household expenditures

Our property attribute and household expenditures data provides organisations with real insight into an individual’s circumstances, and has been used to assess vulnerability and affordability, and validate household composition across collections and fraud applications, specifically to:

• Identify complex residential units and vulnerability
• Support affordability – Income and expenditure
• Identify household composition & benefits fraud
  
  

The solution includes a range of property attributes for the UK including:

• Property use, occupancy type & tenure
• House of multiple occupancy, social housing and institutional indicators
• Number of rooms & living space – bedrooms, etc.
• Running costs, property use and classification