L&G launches proposition for mortgage advice firms

Legal & General Mortgage Club has announced that it will begin offering an API-driven WordPress integration to mortgage advice businesses which will enable a customer-friendly and intuitive residential affordability calculator on its website.

The ‘broker in a box’ proposition builds on the same technology used by the club to power its SmartrFit platform, which combines criteria sourcing with an intuitive inbuilt affordability calculator to help advisers quickly understand which lenders would be suitable for their clients.

This white-labelled version, however, can be integrated into a broker’s existing website, allowing them to offer a similar affordability calculator service.

The ‘plug and play’ approach reflects the wider intended benefits of the service, which is designed to help alleviate the administrative burden placed on advisers when completing an initial customer fact find.

The tool is expected to help SME advice firms especially by helping to remove some of the key barriers to tech adoption while helping to keep costs down.

Clare Beardmore, head of broker propositions and relationships at Legal & General Mortgage Club, said: “Knowing broadly how much they can borrow from a mortgage lender is one of the very first steps for anyone looking to buy a home and it’s a question that advisers hear all too often.

"However, this latest product is designed to help automate the process, while also generating leads for advice businesses.

“This is a great example of using technology to support brokers, especially for smaller firms looking to provide services normally available only to larger outfits.

"We have seen success with these types of partnership already, having launched a similar function with My Simple Mortgage, and we anticipate this will go a step further by opening the door to a real variety of other firms.”