MBT Affordability launches with SimplyBiz Mortgages
Mortgage Broker Tools (MBT) and SimplyBiz Mortgages have announced a partnership which will provide the mortgage club’s members with easy access to the award-winning MBT Affordability platform, which now includes MBT Criteria Search.
SimplyBiz Mortgages members now have access to one easy to use eligibility calculator based on affordability and criteria for more than 40 Residential and 65 Buy to Let mortgage lenders. Calculations are accessed through one intuitive form and results are delivered in under a minute. There are no approximations or estimates as the approach ensures accurate affordability results every time.
For a limited period, those registering for access to MBT Affordability will also have free additional access to MBT Criteria Search, which provides advisers with a free text search bar that allows them to research any criteria term from any number of lenders on the panel. Results are identified within the lenders’ own criteria guides and the exact wording is highlighted for advisers to review within the platform.
Mortgage Broker Tools launched MBT Affordability in early 2019 and the platform has already surpassed 15 million searches on mortgage cases worth more than £100 billion. It has twice been ranked as the Best Affordability Solution for brokers by Smart Money People and won Best Use of Technology at the Mortgage Finance Gazette Awards 2021.
Richard Merrett, head of strategic development at SimplyBiz Mortgages, said: “With the limited housing stock available in the market, being able to give customers as much choice as possible in their home purchase is a key factor in a mortgage adviser’s ability to provide solutions, and this often starts with maximising affordability potential. It has become quite clear over the past 12 months that it is not always the most obvious – or familiar – lender which can deliver the best customer outcome.
“Through our own testing, and feedback from lenders and members, we know that Mortgage Broker Tools provides a solution that has been crucial in both narrowing the research funnel and providing alternative lender solutions to deliver good customer outcomes.”
Tanya Toumadj, CEO at Mortgage Broker Tools, said: “Affordability is a crucial part of the research process and more brokers are realising the importance of harnessing technology to make that process quicker, easier and more comprehensive. MBT Affordability is the most extensive and reliable affordability research platform available in the market and we are delighted to be able to make it more accessible to even more brokers through this partnership with SimplyBiz Mortgages.”