This first phase of the pilot will see a number of advisers from both Countrywide and Openwork input information on the property, income, debts and expenditure of their customers into Affordability Hub, which in turn will be sent to a number of lenders: Accord, Bank of Ireland, Barclays, Hinkley & Rugby, Halifax, HSBC, M&S, Nationwide, NatWest, Post Office, Precise, Principality, Santander, Scottish Widow, TSB, and Virgin.
The results will be collated and presented graphically and in a table format to include the maximum lending amount based on either the property or customer circumstances or both. A screenshot of the lender’s results is retained providing a comprehensive compliance record to support the advice given.
Mark Lofthouse, CEO of Mortgage Brain, comments:
“We are delighted that our partners, Countrywide and Openwork are supporting the Affordability Hub pilot in its first phase."
“This pilot marks an important stage in Mortgage Brain’s drive to digitally enhance the mortgage process and transform sourcing. It is anticipated that by the end of the pilot at least 30 lenders will be included on Affordability Hub and that further phases will see more partners piloting the platform. “
