Unlocking the Power of Unique Property Reference Numbers in Your Database

Every book has an ISBN, every vehicle has a number plate and every UK resident nearing or over 16 years old has a national insurance number. Each is a unique code assigned to that very book, vehicle or person. The Unique Property Number (UPRN) works in the same way. It is a distinct identifier assigned to every addressable entity in the UK. It provides a standard and accurate way to identify and reference properties. Each property is given a unique numeric identifier up to 12 digits in length.

The UPRN is assigned by the local authority and Ordnance Survey, using a range provided by GeoPlace. The local authority is responsible for naming and numbering every street and property. Ordnance Survey identifies properties, including those that may not have a conventional address to ensure they are captured with a UPRN.

You may be wondering, why not just use the postal address? Well, the UPRN is more granular than the postcode. Postal addresses can also sometimes be ambiguous. One company may refer to an address as ‘Flat 1’ and another business will list it as, ‘Ground Floor Flat.’ The UPRN ensures there is no confusion of a property through inconsistent naming.

The UPRN remains with the entity throughout its lifecycle, right from planning to demolition. If a property is demolished, its UPRN becomes historic and is never reused. When two flats are combined, their old UPRNs convert to historic, and a new UPRN is assigned to the combined flat. In flats or offices, the block takes a parent UPRN and then each flat or office has its own child UPRN.

The beauty of the UPRN is that it provides a universal language, allowing different industries to talk to each other more easily – including the public and private sectors. It is referred to as the ‘golden thread’ as it works as a common reference and an authoritative code, so sharing data is much easier and fewer errors in data exchange occur.

Which industries benefit most from using UPRN?

When businesses are exchanging details about land and property, the UPRN helps in the following ways:

• Builds a trusted digital data set that is connected authoritatively
• Avoids possible duplication as the number is unique
• Eliminates ambiguity, especially within any complex or large developments
• Improves data integration and sharing
• Enhances accuracy as it reduces errors and discrepancies
• Removes any uncertainty as different organisations use different formats
• Allows industries to enrich their CRMs
• Aids in fewer errors when matching records in different databases
• Prevents fraudulent activity

If you are a lender, estate agent, house builder or other property professional, getting the correct address is crucial for an effective valuation process or the completeness and accuracy of your database.

It has the potential to create property passports or logbooks as it can link property information from all those involved in the property sector. It also can easily link local land changes, EPCs, building regulation confirmations, planning permissions, council tax assessments, gas and electricity safety certificates and more!

How does the UPRN help the finance industry?

Precision is essential in the finance industry, where data-driven decisions are the foundation of success. The UPRN plays a crucial role by connecting disparate datasets, enabling a more comprehensive view of properties. This holistic perspective enhances risk assessment, asset valuation, and investment analysis. By reducing errors and streamlining processes, the UPRN helps financial institutions make more accurate, informed decisions, ultimately improving operational efficiency.

FOR LENDERS:

UPRNs ensure mortgage lenders can easily identify the correct asset. Sometimes addresses are quite similar, and tricky to distinguish between or have different naming conventions. Mortgage lenders can retrieve information such as property history and lease length faster. They can also easily check for geographic risks like flooding and subsidence to make more informed decisions about lending. This speeds up approval processes. Lenders will enjoy seamless data exchange between solicitors and surveyors for faster decision-making and fewer delays. Each property's unique identifier can help thwart fraud by preventing property misrepresentation or identity theft. Lenders can more efficiently manage assets and maintain accurate records. Data will also be more consistent.

Here is how Nationwide has adopted UPRNs to quickly assess a property's sustainability and decide whether to offer loans, speeding up decision-making.

FOR INSURERS:

The UPRN aids in more accurate property identification so insurance companies can obtain precise details about a property, its location and any risk factors. This allows for more accurate underwriting and pricing of insurance policies. Insurers can assess risks more effectively by linking data on crime rates, environmental hazards and historical claims associated with an area or a particular property not just a postcode. The auditing process is simplified so that insurers can maintain more transparent records.

FOR VALUERS:

Instant access to comprehensive property data enables valuers to make more informed decisions at the point of valuation, minimising post-valuation queries. It also helps determine whether an in-person assessment is necessary, streamlining the overall process.

FOR INVESTORS:

Convenient access to accurate, up-to-date information across entire portfolios enables smarter investment decisions. By analysing the data, investors can quickly identify which properties are viable, which may be costly and should be offloaded, and which merit further investment. There is an opportunity for the property industry to create more effective business models.

What are the barriers to USPN usage?

Adoption: Intended for national use, the UPRN hasn't yet been adopted by all organisations which can cause problems when trying to merge or compare data.

Access: UPRNs are available for public use but certain addresses may be restricted or require licenses creating a cost barrier for smaller businesses. The cost of implementation may also prohibit some organisations.

Awareness: Some businesses may not understand the benefits of the UPRN or may not be aware of it which hinders widespread adoption.

UPRNs are at the core of TwentyCi data

Inscriptio

Our Inscriptio tool is a data cleanse service. It improves the accuracy of address data for our clients. We help businesses ensure their property data is precise by matching addresses to unique UPRNs. This reduces the risk of errors, such as targeting the wrong properties in marketing campaigns. It's ideal to use Inscriptio before system integrations, marketing campaigns and data analysis. This will lower the risk of incorrect targeting, reducing marketing wastage.

A single, unified number allows organisations to connect records, share information, and ensure data consistency, all while continuing to use their internal tools and processes. It has ample advantages for the finance industry, particularly in improving operational efficiency, reducing errors, and streamlining compliance. By linking disparate systems with a unified identifier, financial institutions can improve data accuracy, ensure seamless collaboration across departments, and easily meet regulatory requirements.

If you’re interested in finding out more about Inscriptio and how we use UPRNs, please don’t hesitate to get in touch.

TwentyCi are home mover data and homeowner data experts, working with a wide range of industries, offering data, analytics, and insights on the UK residential property market for marketing and strategic purposes.