The app, titled “Buy to Let Affordability Calc” is based on TMW’s “how much can be borrowed?” calculator and optimised for Android and BlackBerry-powered devices.
The app will allow intermediaries to work out how much their client could borrow from TMW after entering the estimated purchase price/valuation and estimated rental income on a property.
TMW said the benefit to intermediaries was that they would be able to check the amount their client can borrow when they are on the move and might not have their laptop with them, enabling them to provide an even more efficient service.
Paul Howard, head of corporate accounts at TMW and Nationwide, said: “The new app is based on TMW’s most popular calculator which attracts 4,500 unique visitors per month, so I expect the app to be a popular and useful tool for intermediaries. It’s really easy to use and will help brokers do business with us wherever they may be.”
