The new tool will provide brokers with a simple and effective way of demonstrating to clients the benefits of consolidating debts by remortgaging.
The debt consolidation calculator can be launched from the source results screen and all brokers need to do is enter both the loan amount and identify what portion of this debt being consolidated. The calculator then allows brokers to enter each item of debt that the client would like to consolidate. All of these are taken into consideration and applied to the mortgage source results where brokers will be able to see the monthly payments and potential saving for each product.
Once a product has been selected, you are provided with a product summary which includes a payment schedule, which shows figures over the next twelve months and the full term of the mortgage should the client choose to consolidate their debts or not. This helps brokers show clients the potential savings over the short, medium and long-term.
David Aylmer, marketing director at TrigoldCrystal said; “The issue of managing debt is sadly becoming more and more important and the recession continues to affect more and more households. Mortgage brokers have such a vital role to plan in helping clients understand the options that are available to them and the potential savings that can be made. The launch of this new calculator will provide them with the tools to make sure that the most appropriate product is selected and that clients’ truly understand the nature of the product. We also believe that the launch of this calculator provides brokers with a marketing opportunity to go to their client database and publicise the option of debt consolidation. There is a very real chance that many of their former clients will be experiencing some challenges with their debt and contact from their advisor may be very well received.”
