Credit history and income tell an important story about an applicant’s financial position. But they miss a crucial piece of the puzzle: assets. In the UK, property accounts for around 40% of net household wealth.
Right now, many loan applications are declined because this information isn’t considered. Borrowers with small defaults or historic credit issues may still have significant property equity, but without this visibility, credit unions are missing opportunities to lend.
For Loan Officers, gathering this information is often manual and time-consuming. Checking property values, researching mortgage balances, or trying to understand ownership history can slow down lending decisions.
Property Equity in the Dashboard
The Property Equity section in the Dashboard provides instant access to property data whenever an applicant confirms they are a homeowner.
From within the applicant’s record, Loan Officers can see:
Current property value – the market estimate of the home.
Outstanding mortgage balance – so you can calculate equity.
Property equity position – a clear view of available security.
Ownership details – including property type, tenure, and household information.
Transaction history – showing how the property’s value has changed over time.
Council Tax band and cost – to support affordability checks.
All this information is displayed directly in the Dashboard, removing the need for external searches or manual data entry.
Faster, smarter lending decisions
With Property Equity, Loan Officers can:
Approve more loans – Applicants with small defaults or CCJs can be reconsidered if strong equity reduces their overall risk.
Save time – Property data appears instantly, cutting out manual research.
Strengthen assessments – By considering both income and assets, decisions reflect a more complete financial picture.
For example, a borrower with a £400 CCJ might ordinarily be declined. But if their property is worth £500,000 with £400,000 in equity, that decision could change. Turning just 100 such cases into approvals could mean tens of thousands of pounds in additional interest income.
Ready to use Property Equity?
Property Equity is available now in the Dashboard. It’s another step towards giving credit unions a holistic view of applicants, bringing together debts, income, and assets in one place.
The feature can be enabled at the product level. This means you can choose to switch it on for lower-risk products such as Homeowner Loans, while keeping it off for higher-risk products such as Family Loans.
If you’d like to switch on this feature, please contact our support team via chat in the Dashboard or by emailing [email protected].