The Green Factor

Peter Stimson, Managing Director of Landmark Quest, features in the March edition of industry publication, Mortgage Finance Gazette, discussing the topic of the importance of understanding environmental risks in making mortgage lending decisions.  

Peter suggests that  the use of environmental data in the mortgage application process can be used in one of two definitive ways to help lenders understand any potential risks: as a means of providing some certainty to other checks lenders conduct, such as Automated Valuation Models, in addition to providing surveyors with additional support and direction in the valuation process: 

The Green Factor

"Those of you who have worked in the mortgage market like me, for a number of years, will have noticed how much things have changed over the last 20 years. Mortgages have gone from a local relationship with a branch where cases where manually underwritten to a large centralised administration unit, where the bulk of cases will barely be seen by an underwriter.

Whilst some may pine for the days of being able to talk through cases locally and get those ‘exception’ cases through, the stark reality is that, from a bank’s perspective, all the automation and centralisation has resulted in two clear outcomes.

Automation
Firstly, it needs less people and hence less money to process cases. Secondly, the standardisation of risk and criteria and the use of technology, in particular credit scoring, has had a dramatic output on default rates. Whilst an exception case may turn out to be an exception and perform well, they are generally never the rule.

In my view, the game changer in risk occurred in the early 1990s with the advent of credit reporting. Rather than relying on an applicant’s honesty (or otherwise) and a few paper checks, it becomes apparent (to some lenders much later than others…) that you could tell an awful lot about an applicant and particularly his propensity to repay simply by looking at his previous history.

Surveyors
Whilst the mortgage process has changed, one aspect however remains very much the same as it ever was: the property risk assessment. In over 95 per cent of instances there is still a reliance on a physical inspection and the same pressures on a surveyor to get it right or ultimately down the line, risk being sued.

This reliance on a surveyor does put pressure on the whole process and ultimately is often the reason why mortgage offers take as long as they do. Whilst surveyors are putting in place processes to address some of the issues that occurred in the market last year, particularly in and around London, the fact remains that a lot more could be done with the available data in the market, either to reduce surveyor pressure at peak times of demand or, to assist the surveyor in getting the job done right."

To read the full article - visit the Mortgage Finance Gazette website.

Santander incorporates environmental data from Landmark Quest into mortgage valuation assessment process

Latest news from our 'Landmark Quest' division:

"Landmark Quest, a leading provider of risk management, mobile solutions and bespoke valuation software for lenders and surveyors, has today announced it has partnered with Santander to integrate environmental risk data into the lender’s mortgage valuation process.  It is the first high street bank to assess environmental data, in order to support its overall decision-making process.

With Santander opting to use Automated Valuation Models (AVMs) alongside physical valuations for property purchases and remortgages, the environmental data helps support the AVM decision by highlighting risks such as flooding and subsidence. Should either the AVM or the environmental data highlight a risk or not be sufficient to support a decision, rather than cases being declined they will be forwarded to a specialist valuation surveyor to undertake a physical inspection.

David House, Head of Property Risk at Santander UK said: “We have partnered with Landmark Quest to integrate environmental data into our AVM. By incorporating this, Santander is taking a robust approach to property risk by looking at factors other than just the valuation. If any environmental risk is highlighted, we will revert to our usual physical inspection process. This ensures that none of our customers will be disadvantaged as a result.”

Adds Peter Stimson, Managing Director – Landmark Quest, Landmark Information Group: “Landmark’s database is one of the largest of its kind in Europe holding approximately one billion active features.  By working in partnership with Santander, we are proud to integrate environmental data into its valuation process so any potential risks can be analysed as part of the lender’s already thorough analysis.”

Uncovering the Past: Stonehenge

It’s been interesting to watch recent reports regarding Stonehenge and, in particular, the discovery of 17 more significant sites that are linked to the ancient plot.

Over recent years, scientists from Birmingham University have been using technology to map the area and it is from this that the new shrines and burial mounds have been discovered.

Stonehenge is believed to be over 5,000 years old. While Landmark’s comprehensive collection of historical mapping does not reach back quite that far, our interest has been piqued by the use of LiDAR and laser scanning techniques to produce detailed terrain models, in addition to the way GIS has been used to overlay archaeological finds to analyse the site. All of which are very similar to the processes used today by our customers in the surveying, planning, environmental and construction industries.

Simply substitute burial mounds, solstice markers and druid procession routes with planning applications, contaminated land and environmental consultants, and hey presto!

From watching the developments at Stonehenge, it’s clear that today we are fortunate to have access to highly advanced mapping data and technologies that enable us to learn far more about our past than ever before.  And, from our customer’s point of view, having access to information regarding a piece of land’s former use can ultimately help shape the way the very same piece of land is used in the future.

Piers Edgell, Senior Account Manager and Matt Wills, Senior GIS Analyst, Landmark Information Group

Appendix:

http://www.dailymail.co.uk/sciencetech/article-2750005/The-hidden-empire-Stonehenge-Radar-scanners-17-sites-near-ancient-stones.html

Landmark’s new Envirocheck Analysis fully digitises Phase 1 desk studies

• Environmental consultants can now digitally access current and historic maps AND related environmental data to streamline the Phase 1 analysis process of Environmental Site Assessments 

• Removes the need to cross-reference separate printed reports containing historical maps, current maps, aerial photography and environmental data

• Significantly cuts assessment time, saving money, whilst also improving overall accuracy of historical map and environmental data analysis

We are today proud to announce the launch of a brand new edition of Envirocheck Analysis, which has been designed to fully digitise the desk study process of Phase 1 Environmental Site Assessments, which are conducted for land and property developments.

The new Envirocheck Analysis enables Environmental Consultants to digitally analyse current and historical maps and aerial photography, in conjunction with environmental data. This means that from within a single online platform, professionals can now accurately assess environmental risk factors related to a piece of land, without the need to overlay printed maps, manually draw boundaries or search through rafts of printed reports for potential sources, pathways or receptors of contamination.

Early customer feedback on the new Envirocheck Analysis platform has suggested that the time it takes to conduct the data analysis process is reduced by at least 25%.

Commenting on the launch of the new Envirocheck Analysis, Richard Puttock, Partner of Peter Brett Associates LLP said: "Envirocheck Analysis is really changing the way that we conduct our Phase 1 Site Assessments. In the past, we have ordered our environmental data and historical map reports through Envirocheck and spent our time analysing PDF reports and even printing the documents out to have physical copies to work through. Since adopting Envirocheck Analysis, we are already saving significant amounts of time in analysing historical mapping, and the measuring and drawing tools provide a great level of accuracy, in much less time. 

Continues Richard Puttock: “We have been involved in the entire user testing phase for the new Envirocheck Analysis, and we can't wait to start using it for all our Phase 1 desk studies. With all of Envirocheck's environmental data layers being added into the application, we no longer have to spend so long identifying symbols on maps and relating ID numbers back to separate datasheet reports. Now we can visualise everything in Envirocheck Analysis, alongside current and historical mapping, and make an assessment on the potential risk in much less time. Ultimately, this allows us to complete the job more efficiently without comprising accuracy or quality, which helps us provide an even better service to our clients."

The key features of the new Envirocheck Analysis include:
• Overlay digital environmental data onto current or historical maps to determine potential contamination risks
• Instantly review information behind every dataset to understand what is being highlighted and the potential risks
• Decide how far away from the target site you want data displayed to by using the Distance Filter tool for every dataset
• Access a range of aerial photography plus drawing and measuring tools to mark-up Phase 1 assessments
• Draw Pins to instantly highlight historical land use or environmental concerns – each pin records a grid reference, plus the distance and direction from site using an accurate measuring tool
• Instantly Export these Pins (and their associated information) as a table, directly into environmental site assessment reports.
• View an instant summary of the number of potential risks via a handy ‘feature count’ tool
• Create instant photo snapshots of the site that can be exported to reports
• Saves hours per Phase 1 desk study on historical map and environmental data analysis

Mark Burnard, Senior Product Manager at Landmark Information Group, said: “Through extensive industry consultation, we've listened to what our customers want and are excited to today launch the new Envirocheck Analysis platform.  It enables consultants to be able to assess and analyse mapping and environmental data faster, with more accuracy and ultimately helps deliver detailed and highly accurate reports to clients, faster.  The aim is to remove the need for consultants to have to use light boxes, lots of paper, scale rules and sticky tape when analysing printed maps with environmental data: now this can be all done online.”

Concludes Mark Burnard: “The evolution of environmental reporting doesn't stop here. With the new Envirocheck Analysis platform fully digitising the historical map and environmental data analysis element of Phase 1 assessments, plans are already underway to integrate Site Walkovers into the online platform.  We have some more exciting developments coming very soon, which will integrate remote and mobile working. Watch this space for updates.”

Launch Promotion:
Envirocheck Analysis is available free of charge during August and September. For more information on Envirocheck Analysis, telephone 0844 844 9952 or email customerservice@envirocheck.co.uk.

Envirocheck Analysis - providing digital access to maps and environmental intelligence

DMGT Green Week: 14-18 July 2014

This week sees the launch of DMGT Green Week, which aims to support our Group goal to reduce carbon footprint by 10% by 2015.  The week is a group-wide initiative and is a reminder to us all of the smaller initiatives we can all do on a daily basis to ensure we operate in a sustainable and environmentally friendly manner.

The aim is to raise awareness of sustainability and climate change related topics, as well as to educate us all on how we can ‘be green’.

Green Week runs from 14^th to 18^th July and we at Landmark are embracing the week with a variety of green activities, all of which follow these daily themes:

 

The week is a great way for us all to participate in a wide-range of initiatives, and activities will include: "The Great Green Bake-off", a Green Tea Party, British Red Cross donation points to donate old or unused items, visits from Organic greengrocers & Growers Co-operatives, a Wear Green to Work Day & Wear your Wellies to Work Day, plus being mindful about switching off lights or electric points and more. 

Wish us luck in our endeavours - we will be sharing photos and updates from Green Week on our blog and Twitter feeds.

Landmark’s commitment to environmental awareness and reducing our carbon footprint has grown over the years.  It has been recognised in achieving and maintaining the ISO14001 accreditation which is well respected. Our continued pledge to reduce waste, reduce consumption and re-use or recycle is ongoing and it is thanks to our team of Landmarker’s that we have been so successful to date.