Leek United Building Society has introduced an online residential affordability calculator for brokers.
The new system can be accessed any time of day and provides intermediaries with an “instant” affordability decision.
Intermediaries will need to input details of income, loan and credit card payments, as well as any other monthly outgoings into the calculator.
Leek United Building Society head of marketing and mortgage sales Lisa Buckley says: “We value all feedback we get from brokers, and our move from manual affordability checks to the new automated system is in direct response to requests we’ve received for this added flexibility.
“It now means that within minutes, brokers can get a good idea of how much we could lend to their clients.”