Legal & General has launched a new mortgage criteria search tool and affordability calculator, SmartrFit.
Combining L&G’s own mortgage search criteria tool, SmartrCriteria, and a new affordability calculator, results from SmartrFit will inform advisers which lenders match their clients’ particular circumstances, and the maximum loan amount they would offer.
The lender indicated that the tool utilises lenders’ own affordability and lending criteria, helping advisers find the right products quickly and accurately.
SmartrFit will also carry out 11 criteria checks as it calculates affordability to determine whether a particular lender matches the borrower’s requirements. Advisers will be able to further refine suitability by inserting additional criteria of their choice, allowing them to see why a particular lender was a match.
The tool will first launch for residential mortgages, with buy-to-let mortgages following early next year, L&G confirmed.
“The pandemic has created a lot of uncertainty for advisers as lending requirements and criteria have drastically changed,” commented L&G Mortgage Club director, Kevin Roberts. “Advisers want accurate tools they can trust to help them provide the best service to their clients and provide quick outcomes for them.
“Technology has the power to change our market for the better. Tools like SmartrFit will help to create operational efficiencies for our market, while giving advisers and lenders valuable insights and data to help improve the services they provide.”
Latest News
-
IHT receipts total £4.39bn in six months to September
-
Younger advisers more likely to work with new clients, study finds
-
Average price of new property on market climbs 0.3%
-
Chancellor revives ISA allowance reforms
-
FCA calls on banks to improve romance fraud prevention
-
Third of over-60s have no tax-free cash plans
NEW BUILD IN FOCUS - NEW EPISODE OF THE MORTGAGE INSIDER PODCAST, OUT NOW
Figures from the National House-Building Council saw Q1 2025 register a 36% increase in new homes built across the UK compared with the same period last year, representing a striking development for the first-time buyer market. But with the higher cost of building, ongoing planning challenges and new and changing regulations, how sustainable is this growth? And what does it mean for brokers?
The role of the bridging market and technology usage in the industry
Content editor, Dan McGrath, sat down with chief operating officer at Black & White Bridging, Damien Druce, and head of development finance at Empire Global Finance, Pete Williams, to explore the role of the bridging sector, the role of AI across the industry and how the property market has fared in the Labour Government’s first year in office.
Does the North-South divide still exist in the UK housing market?
What do the most expensive parts of the country reveal about shifting demand? And why is the Manchester housing market now outperforming many southern counterparts?
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
The new episode of The Mortgage Insider podcast, out now
Regional housing markets now matter more than ever. While London and the Southeast still tend to dominate the headlines from a house price and affordability perspective, much of the growth in rental yields and buyer demand is coming from other parts of the UK.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories