Property

Overview

Making well-informed property lending decisions.

The housing market in New Zealand is continually changing, and with any change comes risk. Before your business offers lending or credit leveraged against a property, it is imperative that you are well informed about that property. Equifax understands the need to provide a fast, seamless service that supports a faster application decision time, effectively manages risk and delivers a great customer experience.

Equifax property solutions are powered by Valocity, a leading New Zealand property data analytics provider. This partnership brings together two organisations that are focused on innovating to deliver meaningful insights and enhanced solutions aligned to your changing needs over time.

With Equifax property solutions you can verify property details including ownership, benchmark a property’s valuation, obtain sales history and understand encumbrances. You can also access credit reports to support your assessment of credit worthiness and verify an applicant’s identity electronically. With credit, property and identity data all available online and real time, Equifax can expedite the end-to-end lending process for your business and improve your lending processes.

For more information, download our property solutions brochure.

iVal^TM

An iVal^TM report is generated using an automated valuation model and calculates an estimated market value for residential New Zealand properties. It can be used as a benchmark tool to determine the amount to lend on a selected property.

This information can be used to assist the lending process and enables fast, well-informed decisions.

An iVal report provides the following information:

• Confirmation of property address
• Current, estimated market value of a property based on sale prices of similar properties in the area, including a value range and confidence level
• Information on additional attributes including risk flag, rating valuation and previous sales
• Details and attributes of comparable property sales that support the valuation estimate.

iRisk^TM

The iRisk^TM report is tailored to assist in identifying risks associated with lending on residential properties. Assessing where a property’s estimated value range lies in relation to a view of lower, median and upper quartile recent sales prices of properties in the surrounding area can assist with reducing risk and completing thorough lending due diligence. An iRisk^TM report uses Valocity’s statistical modelling and information to provide a view of the risk exposure of lending on a particular property. The report includes:

• Confirmation of property address
• Current estimated value range based on the recent sale prices of similar properties in the area
• Key risk information including historical sales to identify property flipping, building consent history and risk flag
• Benchmarking of where the property value lies in relation to quartile views of recent sales prices in the surrounding area

iPortfolio^TM

In scenarios where a customer owns multiple properties, an iPortfolio^TM report enables users to view an accurate picture of a customer's complete property portfolio, including the market value, equity and loan to value ratio (LVR) – all in one report.

With changing LVR restrictions in market, this report provides valuable insight that will enable informed credit decisions, a faster application decision time and an improved customer experience.

For each residential property within a portfolio, an iPortfolio^TM report includes:

• The current estimated value
• Last sales price
• Mortgage provider
• The rating valuation

It also allows entry of mortgage balances so that the loan-to-value ratio and equity position can be easily viewed.

Property Summary

A property summary report combines valuation, ownership, sales and transactions into one comprehensive report, saving you time in obtaining this information from multiple sources. Access to this information allows you to speed up the due diligence part of your lending process.  A property summary report contains a range of information, including:

• Rateable value
• Owner details
• Sales history
• Building consents
• Interests registered on the certificate of title, current and historical
• Aerial image and boundary details
• General property detail
• Legal property details

Property Valuation

A property valuation report provides essential information to support your lending decisions.  Access to this information can support decisions such as how much to lend against the property and measure your customer’s equity levels if they are looking to re-finance. The report contains:

• Confirmation of property address
• Owner details
• Most recent rateable value
• Land and improvements
• Floor and land area
• Legal description details

Property Ownership Verification

This is a cost-effective report that enables verification of property ownership at the point of enquiry.  This service can assist with customer due diligence requirements under AML/CFT legislation.

Property Sales

A quick and easy way to access New Zealand property information that can be used as a benchmark when assessing an application for property lending. The report contains the following information:

• Sales history including sales prices and dates
• General details
• Vendor/buyer name
• Floor area or land area
• Legal description details

Property Transactions

Understanding if there are any interests on a property (e.g. encumbrances) is a crucial factor to your decision making.  This report provides:

• Information on any interests on the property
• Legal description of the property with current and historical memorials or mortgage owing on the property
• The legal data fields as presented on the Certificate of Title

Want to know more?

For more information, contact your Equifax account manager or call the Equifax Helpdesk.

Terms and Conditions

Read the Property Terms & Conditions.