Lewis Lenssen, managing director at Mortgage Broker Tools, said the new tool would add real value to brokers.
Mortgage Broker Tools has launched a new type of affordability sourcing with embedded criteria searches.
MBT Affordability features criteria searches, such as loan-to-value (LTV), maximum loan to cost and maximum age, to deliver results with richer information that can better inform the advice that brokers provide to their clients.
The platform will exclude results from some lenders where fundamental details fall outside of their criteria, such as minimum and maximum age, length of lease or whether the lender allows Help to Buy.
It will, however, display and flag results for lenders where the case falls just outside of criteria on LTV, interest-only, capital raising and debt consolidation as a broker may choose to reduce the loan size or the client may be able to adjust their deposit in order to fit a lender that falls into this group.
Lewis Lenssen, managing director at Mortgage Broker Tools, said: “There are so many elements to consider when it comes to identifying the right mortgage for a client, and one way brokers can add real value is by changing the way they structure a case in order to help it fit a more desired lender.
"This new technology that has been launched into MBT Affordability enables brokers to do just that, by flagging the lenders that may be able to help their client if they can change some elements of the application.
“The launch of this new criteria technology only adds to the incredible value that MBT Affordability can offer brokers, providing a single, well designed, calculator that automatically and intelligently completes individual calculators for 35 lenders, with unlimited access for just £9.99 per user per month.”
