Mortgages

Mortgage Brain launches Affordability Hub

The new service will be included with Mortgage Brain’s sourcing and Criteria Hub systems at no additional charge.

Rozi Jones
|
5th September 2019
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"By providing the adviser with the amount lenders are prepared to lend, we challenge the current process of the lender agreeing to lend a specific amount."

Mortgage Brain has launched Affordability Hub - a new solution displaying the maximum lending amounts of over 30 lenders.

When advisers provide information on the property, income, debts and expenditure, Affordability Hub sends this to the lenders' affordability calculators. The results display the maximum lending amount offered based on property, customer circumstances or both.

A snapshot of the lender’s results is retained and this, together with the results, provides a compliance record to support the advice given.

The new service will be included with Mortgage Brain’s sourcing and Criteria Hub systems at no additional charge. It will go into pilot in Q4 of this year and will then be made available to all Mortgage Brain and Criteria Hub users.

Mark Lofthouse, CEO of Mortgage Brain, commented: “Our announcement offers a step change in how advisers can source mortgages. By providing the adviser with the amount lenders are prepared to lend, we challenge the current process of the lender agreeing to lend a specific amount. Advisers, and in turn their customers, will have a new level of transparency on the range of affordable mortgage options from a wide range of lenders.

“Following our acquisition of Criteria Hub earlier this year, adding criteria based sourcing to our renowned product based mortgage sourcing solution, has been very well received by the market. Adding an affordability portal provides advisers with the finest technology proposition to enable them to give the best advice and service to their customers.”

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