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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Experian plc    EXPN   GB00B19NLV48

EXPERIAN PLC

(EXPN)
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Experian : Virgin Money launches on Experian's pre-qualification platform to h...

09/21/2020 | 10:20am EST

Homebuyers and advisers will benefit from instant access to products most suitable for their financial circumstances

UK, 21 September 2020: Virgin Money will put mortgage eligibility in the hands of homebuyers and intermediaries after joining Experian's pre-qualification platform, helping to widen its reach in the digital marketplace.

The partnership sees Virgin Money become the latest brand to join Experian's panel of lenders that appear on pre-qualification websites and adviser platforms. It helps to match prospective customers to the mortgage deals they are eligible for and provides a far more accurate decision earlier in the application process.

Combining Virgin Money's mortgage affordability requirements with Experian's soft search capabilities, the solution provides customers with an automated decision based on their credit history to determine whether they match the mortgage lending criteria. If accepted, the application will be supported with details of the maximum amount they can borrow.

Experian's pre-qualification platform, which now includes Virgin Money's standard residential and Help to Buy ranges, helps set clear expectations around people's borrowing power and the options available to them.

Brokers can also benefit by using the results to swiftly navigate the initial stages of the mortgage process by narrowing down the most suitable lenders for their clients in seconds. This removes the need to negotiate the numerous touchpoints for criteria, credit reports and affordability calculators, often saving hours per application.

Lisa Fretwell, Managing Director of Data Services, at Experian UK&I, said: 'Going through a lengthy mortgage application just to be turned down can be frustrating for everyone involved, not least the buyer who has found their dream home. By checking eligibility at the beginning of the journey, potential customers can see which mortgages they are likely to be accepted for based on their financial circumstances, while at the same time avoiding damage to their credit score.'

Simon Wallace, Head of Mortgage Transformation, at Virgin Money, said: 'By using technology to give customers and brokers more certainty on lending decisions at the very start of their journey, the search for the right mortgage just got easier and faster.'

Widening the panel of available lenders during a challenging time will mean better outcomes for homebuyers. Virgin Money mortgage products are now available through pre-qualification platforms including Mortgage Gym, New Homes Group, Mojo Mortgages, Property Pal Mortgages and Iress Xplan Mortgage.

David Vertannes, Co-Founder & COO at Mortgage Gym, said: 'It's great to be working with Experian and Virgin Money to bring another top ten lender to our growing panel. We are excited to be able to offer instant affordability and eligibility checks from Virgin Money's range of products and strive to continue to simplify the mortgage process for our consumers, digital partners, and broker customers.'

-ENDS-

Media contact:

Joe Green, PR Manager, Corporate & Business, UK&I, Experian

Tel: 07812 737 768 / Email: joseph.green@experan.com

About Experian

Experian is the world's leading global information services company. During life's big moments - from buying a home or a car, to sending a child to college, to growing a business by connecting with new customers - we empower consumers and our clients to manage their data with confidence. We help individuals to take financial control and access financial services, businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organisations to prevent identity fraud and crime.

We have 17,800 people operating across 45 countries and every day we're investing in new technologies, talented people and innovation to help all our clients maximise every opportunity. We are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index.

Learn more at www.experianplc.comor visit our global content hub at our global news blogfor the latest news and insights from the Group.

Disclaimer

Experian plc published this content on 21 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 September 2020 14:19:02 UTC


© Publicnow 2020
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Financials (USD)
Sales 2021 5 243 M - -
Net income 2021 786 M - -
Net Debt 2021 3 752 M - -
P/E ratio 2021 36,6x
Yield 2021 1,37%
Capitalization 31 434 M 31 469 M -
EV / Sales 2021 6,71x
EV / Sales 2022 6,15x
Nbr of Employees 17 800
Free-Float 93,8%
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Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 39,94 $
Last Close Price 34,42 $
Spread / Highest target 40,7%
Spread / Average Target 16,0%
Spread / Lowest Target -27,2%
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Brian Jude Cassin Chief Executive Officer & Executive Director
Michael John Rogers Chairman
Kerry L. Williams Chief Operating Officer & Director
Lloyd Mark Pitchford Chief Financial Officer & Director
Barry J. Libenson Chief Information Officer
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