Legal & General Mortgage Club has announced that later life lending has been added to its digital, user-friendly criteria search system, SmartrCriteria.
The mortgage club revealed advisers will be able to use the tool to help clients who will still have a mortgage when they are retired, by searching a wide range of criteria including property types, tenure and adverse credit issues.
SmartrCriteria, which has over 6,000 advisers registered to use the system, includes information from more than 100 lenders across the residential, buy-to-let and new build sectors, helping advisers to determine whether a lender would consider a mortgage application from their client.
SmartrCriteria was launched in January 2019 and the mortgage club has since made a series of improvements to the tool to increase support for advisers – with the number of lender criteria outcomes growing from 384,000 to more than 606,000, significantly increasing the system’s depth.
Legal & General Mortgage Club director, Kevin Roberts, commented: “This is now a rich database, providing a smarter way for advisers to keep on top of lender criteria changes and easily find the right mortgage for their clients.
“With the addition of later life lending, our members will now be able to easily find the right solutions for clients who are retired.
“SmartrCriteria is a great example of the type of digital transformation that is key to driving a frictionless mortgage journey, while helping advisers to spend more time doing what they do best – giving quality advice to borrowers.”
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