Knowledge Bank has announced the launch of its residential affordability calculator, the first major product from the business that moves beyond criteria into affordability assessment.
The new feature, AffCalc, will be available as an add on for subscribed users. It is launching on a limited distribution basis today, with a full launch to follow in October.
Launching with residential affordability, AffCalc enables brokers to edit client data as they go and see lenders fall away in real time.
Rather than relying on static outputs, brokers can now adjust inputs and watch the impact instantly, making complex affordability checks faster, clearer, and more accurate.
CEO and founder of Knowledge Bank, Nicola Firth (pictured), said: “We are incredibly proud to bring to market another industry first from Knowledge Bank, in the launch of our affordability calculator.
"AffCalc delivers highly personalised and accurate results in seconds. It moves away from the 'numbers-in-numbers-out' models and for the very first time provides brokers with an intelligent calculator which will only return results where the lender will lend taking into consideration criteria that affects affordability as well as the figures. This stops brokers from spending time on cases where the affordability fits but where it later falls down on criteria.
"Lenders can also have confidence in the cases they receive from brokers using AffCalc as it’s using criteria data input directly by them to drive reliable an accurate result.”
