A new property database covering every single residential property in the UK has been launched by credit agency Experian in conjunction with the online property portal Rightmove.
National Property Data, dubbed “Big Brother” by industry experts, aims to provide banks, mortgage lenders, insurers and financial institutions with financial information about the fiscal circumstances of new and existing customers.
Jonathan Westley of Experian said: “As the only dataset of its kind available that covers 100% of the privately-owned UK property market, the NPD will come as a welcome development. In today’s environment it is increasingly important to have a complete picture about new and existing customers in order to make more informed decisions across the full customer lifecycle. Across the board, the comprehensive and accurate housing data accessed through the database gives clients a greater insight into their customer base and enables them to make more effective and better advised decisions to drive marketing and business performance.”
The database holds information on 24 million residential properties, allowing users to compare residential property prices and house types in different regions.
The provision of accurate, up-to-date property valuations and details of property type allows companies to use the data in a number of ways, including understanding an individual’s financial responsibilities and their property assets.
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