The purpose of the affordability directory is to offer intermediaries a single point of access for those lenders currently offering affordability calculations. This follows Pinks' launch in April last year of a KFI directory.
This facility is located on Pinks’ website and once the intermediary has logged in, they will have access to information on how to calculate the lenders affordability, or there will be a link which will take them to a calculator on the lenders own website.
Dev Malle, sales director at Pink Home Loans, said:
“We are delighted to be in a position to offer this unique affordability directory. Over recent months we have seen more and more lenders relying on affordability to calculate the level of borrowing that they are prepared to offer. This approach is sensible and one that we endorse, we believe that this facility will help our intermediaries offer their customers a swift effective service.
"Here at Pink we are committed to delivering solutions that will add value to the mortgage market place and the affordability directory is a classic example of that.”
Nick Triniman, managing director at The Mortgage Marketplace, said:
“We have found that in the housing market today, with high property values and the ratio to gross earnings, we have to look with increasing frequency to affordability lenders to help our clients. To have links to all the calculators in one place will ensure our consultants are able to provide correct data instantly from a number of sources without having to trawl each site separately.”
