Buckinghamshire launches affordability calculator – Mortgage Introducer

The Buckinghamshire Building Society has launched an improved affordability calculator on their website, powered by technology from Legal & General.

The calculator examines the affordability of borrowers and compares this information to a selection of criteria from the Buckinghamshire Building Society.

The tool also provides the lender with information to understand the types of borrowers for which advisers are looking for solutions.

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Claire Askham, Head of Mortgage Sales at Buckinghamshire Building Society, said: “We are delighted to have partnered with Legal & General to provide this affordability calculator as part of our broader vision of using innovation. digital technology to improve the broker experience.

“We’re committed to continually improving the mortgage process for our brokers, including the successful launch of the online DIP process earlier this year, and this calculator is another way to move us towards a more streamlined process.

“Brokers can now quickly assess a potential case before submitting a DIP online.

“The key to its success is the importance for brokers to accurately capture client data to give a true representation of what we can offer as a lender.

Clare Beardmore, Broker Relations and Proposals Manager at Legal & General Mortgage Club, added: “Creating a streamlined end-to-end mortgage journey has never been more important to our industry than it is today.

“Not only is the mortgage market experiencing unprecedented demand from borrowers, but their expectations are rising more and more.

“They want results fast, that’s where our technology helps advisors, allowing them to respond effectively to that demand and use their time to focus on advising their clients.”

“Technology is absolutely essential in creating this seamless mortgage lending process and enabling borrowers to experience the value of advice.

“This new affordability calculator will boost the operational efficiency of the Buckinghamshire Building Society, while providing valuable market information for the lender’s future plans. “

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