Hometrack has extended its relationship with specialist lender Paragon Bank.

The property data firm will provide Paragon with its automated valuation model and rental value model tools to help it carry out portfolio risk management, customer management, provisioning, capital and stress testing.

Hometrack, owned by online estate agent Zoopla, has had an existing relationship with Paragon since 2014.

Hometrack managing director David Ross says: “As the market increases its focus on risk, the need for accurate portfolio valuation has never been more important. Increased exposure to property and customer risk, combined with changing house price trends, increases the need for a robust, accurate and property-level valuation and assessment.”

Paragon credit risk director Niall Jamieson says: “Hometrack is a natural partner for Paragon and this expanded relationship will give us even greater insight into the factors that may influence portfolio performance, particularly given the fluidity of today’s housing market. ”