L&C Mortgages has signed up to the Open Property Data Association (OPDA), citing the need for greater collaboration for homebuyers across the housing market.
L&C is the UK’s largest fee-free mortgage broker and works with over 100 lenders to offer a wide choice of mortgage products from a single platform. Customers can receive advice online and over the phone: ‘Our aim is to make the mortgage journey as smooth as possible for our customers,’ said chief commercial officer Adam Connolly.
He added:
“But we know that the processes in the housing market need greater collaboration if we are to further evolve the speed and efficiency of the buying process. That’s why we are excited to join OPDA to add our weight and effort to the progress they have already made, establishing the standards that will ultimately drive a more joined up and digitised approach.”
Founded in June 2023, OPDA promotes the industry wide adoption of open property data and technology standards. The association advocates for smart property data based on common standards for safe and secure access and sharing of trusted data, to improve the home buying and mortgage experience for consumers and professionals.
Its members have delivered and implemented a property data schema and created the first version of an industry wide property data trust framework. OPDA is also shaping and contributing to work by the Digital Property Market Steering Group, chaired by the Ministry of Housing, Communities and Local Government.
Maria Harris, chair of OPDA, said of L&C’s membership:
“This is a fantastic time to announce that L&C have joined us. The positive impact of reusable property, identity and finance data in the mortgage advice and homebuying process is irrefutable. Having accurate and trustable smart data is paramount in creating consumer confidence and delivering certainty in the mortgage and property market.
“L&C joining us as we embark on the next steps for smart data and following the publication of our consumer survey report is excellent news and will enable their customers and lenders to access digital property data.”
