Kensington has launched a new affordability calculator to speed up and improve the application process for brokers.
A Kensington statement says the new calculator makes better use of data and gives brokers an accurate figure during the online application process.
Brokers now no longer need to support applications with an expenditure form.
In addition, Kensington’s standalone affordability calculator now gives a more accurate indication of how much the lender will be able to lend, subject to credit score.
Northview Group director of sales & distribution Steve Griffiths says: “Affordability is a fundamental part of mortgage lending and we have invested to deliver a new affordability calculator that uses data more intelligently.
“The immediate benefits of this are a more streamlined process and more accurate outcomes for brokers whether they are using the standalone calculator or submitting an application.”