Buckinghamshire Building Society has launched an enhanced residential affordability calculator for mortgage brokers, designed to provide a more accurate indication of lending potential.
The calculator has been designed to consider a broad range of lending scenarios and incorporates live product data, helping brokers explore options across the Society's specialist mortgage range with greater confidence.
The calculator has been created following collaboration between the Buckinghamshire's mortgage, risk and compliance teams to ensure it closely reflects the Society's lending policy and affordability assessment.
The launch builds on Buckinghamshire's partnership with web development agency Melon, who previously worked with the Society to redesign its suite of buy-to-let affordability calculators, including specialist calculators for limited company and expat lending.
Claire Askham, head of mortgage sales at Buckinghamshire Building Society, said: "We know brokers value speed and certainty when assessing their clients' borrowing options, so it was important that this calculator reflected how we lend in the real world, rather than providing a generic estimate.
"By combining our lending expertise with live product information, we've created a tool that delivers a much more accurate indication of affordability across a wider range of our specialist mortgage products, including later life and first-time buyer solutions. We hope it gives brokers greater confidence when placing cases with us and makes it even easier to identify the right solution for their clients."
