Fast and accurate property information and property valuation enable Landshypotek Bank to give its customers quick answers about mortgage applications. The digitized process includes FastighetSök with integrated property valuation from Metria.
Landshypotek Bank has existed since 1836 and is owned by an economic association with loan customers in the agricultural and forestry industries. All surpluses are returned to its 36,000 members and play an important role in the development of rural areas and agricultural entrepreneurship. Since 2017, Landshypotek has also offered loans for single-family homes and in 2022 passed SEK 24 billion in mortgages to customers across the country.
- "When we started with mortgages, the whole point was to create a digitized, simple and transparent solution for customers," says Lillemor Andersson, who works with valuations at Landshypotek.
Efficient processing
Landshypotek uses the FastighetSök service, an integrated part of the digital mortgage process, to obtain up-to-date information about the property to be mortgaged.
- "Our customers enter the property designation in their online application so that our officers have all the information when we look at it," says Lillemor.
Integrated property valuation service
Since the summer of 2021, Landshypotek has been using Metria's home valuation service as a complement to other valuation methods. The service, which is integrated into FastighetSök, gives the administrator access to statistical valuations of single-family homes and tenant-owned apartments with high precision.
- "We use the service to further ensure the value when the object has a high value, for example, or if there is great uncertainty in other valuations received by the bank," explains Lillemor.
- "Because we get good decision-making data quickly both via FastighetSök and in cases where we need reference valuations, we can handle cases efficiently so that our customers don't have to wait," says Lillemor.
Reliability and quality
For the integrated valuation service, Landshypotek has a personal contact at Metria who has been involved throughout the entire journey, from project planning to implementation and operation.
- "I feel that the service is stable and reliable. We always get quick support if we have any questions, and Metria is very keen to ensure that it works well for us; we feel well looked after," says Lillemor and concludes:
- "Our customers appreciate the mortgage service, they think it is simple and that they get quick answers.
FACTS
Metria Housing Valuation
Metria Bostadsvärdering calculates the value of single-family homes and condominiums and is based on a statistical valuation model with industry-leading precision. It is used by several major players in the market. The model is developed by Metria's partner Valueguard and the information is continuously updated with statistics from sales. The service also handles the fact that housing properties are valued differently in different areas.