Aprao is an online platform for the creation and management of property development appraisals.
The cloud-based proptech service enables property developers to increase their speed, efficiency and accuracy when packaging new funding proposals.
Through Aprao, users can instantly access the profitability and viability of any development from their own project dashboard, understand project risks with sensitivity and finance analysis, as well as produce development cashflow and auto-calculate residual values.
They can also share projects with other people within and outside their companies.
In addition, they can obtain one-page summary reports, which can be exported in PDF and Excel formats.
As a result of the partnership, UTB is now able to accept and consider new development appraisals submitted via Aprao, which can be trialled for free via the platform’s website.
This is part of the bank’s goal to encourage the implementation of appropriate smart digital solutions across the specialist finance market.
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Adam Bovingdon, head of property development at UTB (pictured above), said: "We welcome this collaborative relationship with Aprao and the adoption of appraisal software, which enables a consistent and accurate approach to the evaluation of development projects.
“Although many of our customers are using very good self-built appraisal tools, we also recognise that appropriate digital solutions can improve productivity and responsiveness for new development finance proposals.”
Daniel Norman, CEO at Aprao, commented: "As a relatively new platform in the proptech space, it's important for us to build trust with property professionals.
“By offering a free trial and detailed training videos, we can make it incredibly easy for developers to start using the platform right away.
“Most of our customers are up and running the same day they sign up, testing and benefitting from the system before having to commit to anything.
“An open and collaborative relationship between lenders, developers and proptech platforms is important in ensuring that digital solutions serve all parties, recognising their needs and helping to simplify and accelerate the property funding process.”
Aprao offers single plans from £119 per user per month.