"The mortgage market has moved quickly, so it’s only right that the tech tools used to support it also see the same rate of development."
Legal & General has announced a refresh of its SmartrFit tool, featuring new residential and buy-to-let affordability calculators from nine lenders.
Hinckley & Rugby Building Society, Stafford Railway Building Society, Suffolk Building Society, Buckingham Building Society and Nottingham Building Society have also added buy-to-let products to SmartrFit’s affordability calculator for the first time.
Additionally, Harpenden Building Society, Marsden Building Society, The Mortgage Lender, and Principality Building Society have added their residential products to SmartrFit’s affordability tool.
L&G has also announced an overhaul of its offering, integrating all tech tools developed in the three years within SmartrFit, including SmartrCriteria.
SmartrFit now offers product sourcing including European Standardised Information Sheets, illustrations, and evidence of research documents, alongside a property checker tool.
Legal & General’s SmartrFit tool is free to use and can be accessed by all advisers using a Legal & General agency number, including Legal & General Mortgage Club members or via third parties including SimplyBiz Mortgages, One Mortgage System, and Smartr365.
Jodie White, head of mortgage products and transformation at Legal and General Mortgage Services, said: “We are delighted to mark the third anniversary of the launch of our tech offering with a significant package of new features, setting up our fantastic community of users for an even better new year. The mortgage market has moved quickly, so it’s only right that the tech tools used to support it also see the same rate of development.
“Technology will only grow in importance in our industry, and this is just the beginning of our offering. Further tech innovation will be crucial in 2023 to improve the mortgage journey and to allow stretched advisers to best meet demand from borrowers. We look forward to introducing new modifications and inventions in the coming months, ensuring SmartrFit users have the tech of tomorrow today.”
