Geospatial technology firm Kamma have announced a new partnership with leading solutions provider for property risk management, CoreLogic UK. The partnership will give CoreLogic UK’s Buy To Let Hub customers access to Kamma’s 24/7 licensing compliance and HMO data, providing a unique set of answers in real-time, that will support the underwriting of buy to let portfolio lending.
The growth of discretionary licensing schemes across the 408 local authorities in the UK has created a complex web of rules and regulations that landlords must follow, with unlicensed properties leading to fines and a dramatic increase in arrears events. Kamma aggregates, cleanses, and validates data from all 408 local authorities to give specific answers to questions on licensing regulations and compliance. CoreLogic UK customers can further benefit from the HMO checker feature, which tells them if a property has ever appeared on a HMO register, making it more likely to have fallen into a state of disrepair and hence require a physical valuation.
As Kamma CEO Orla Shields explains “With a renewed focus on the climate crisis, many lenders are looking at the PRS with fresh eyes and considering both their societal as well as investor obligations. Unique data sources from licensing compliance to Rogue Landlord registers are now being used to inform lending decisions.”
Kamma reported last week that fines reported to RLAC in the Greater London area had topped £7million for the first time.
Shields continued “We’re excited to be partnering with a market leader like CoreLogic UK. This partnership enables us to put key answers to questions of regulation and compliance into the hands of key decision-makers, up front in the completion process. This dramatically reduces risk in an operationally efficient way”.
Mark Blackwell, CoreLogic UK Chief Operating Officer continued “Our Buy to Let Hub lets lenders stress test landlord portfolios under the SS13/16 PRA regulations and against lender specific rule parameters. We are delighted to extend our services to clients by working with KAMMA. The addition of licencing and HMO data will provide an added layer of checks that lenders can conveniently use through the Buy To let Hub platform as part of their underwriting, bringing further efficiency and risk management into the process.”