MBT announces new affordability tool

Mortgage Broker Tools has released a new platform, ‘MBT Affordability’.

The tool comprises an affordability calculator that, MBT says, searches products provided by all mainstream lenders.

MBT says that it has been designed to address the FCA’s concerns over brokers using a small number of lenders when they conduct research.

The platform automatically completes each individual lender’s calculator and collates the results, with reportedly no approximations or estimates, as the firm claims the calculator provides 100 per cent accurate results every time.

MBT Affordability stores a record of all cases and affordability results.

Furthermore, case details can be amended at any time and affordability can be re-queried.

Nationwide, HSBC and Clydesdale are included in the approximately 25 lenders included in the tool at launch.

Mortgage Broker Tools managing director Lewis Lenssen comments: “MBT Affordability saves time on every case, but is particularly valuable on cases with complex income, loan and credit commitments and properties in the background.

“There are no long contracts and no set-up costs.”

Metro Finance managing director Jon Lord adds: “MBT Affordability allows advisers to focus on advice rather than form filling.”

Recommended

Leek United introduces affordability calculator for brokers

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 […]

Leek United appoints new BDM

Leek United Building Society has appointed Dan Berrisford (pictured) as its new business development manager. Berrisford has spent the last 12 years at Leek United, previously holding positions as a mortgage adviser, branch manager, and most recently as mortgage and savings product manager. He will spend the majority of his time in the Midlands, North […]

Recording sickness absence cover - thumbnail

White paper — recording sickness absence

The latest figures from the Department for Work and Pensions illustrate that sickness absence is still a major cost to businesses, with an annual bill for sick pay and associated costs to employers of £9bn. This paper from Jelf Employee Benefits looks at the importance of recording sickness absence for any employee health strategy and how this can be carried out in an efficient manner to reduce absence, improve employee engagement and drive up profits.

Newsletter

News and expert analysis straight to your inbox

Sign up