Leek United has launched a new residential affordability calculator to help brokers work out if their clients’ lending amount is affordable when applying for a mortgage.
The society revealed that its calculator, which will be used by underwriters as well as brokers to ensure the consistency of decisions, can accommodate many different income streams including; employed, self-employed, pension and investment income.
The calculator will provide benefits for both brokers and their clients, including a unique code that can be accessed by Leek United underwriters and Business Development Managers (BDMs) – meaning brokers can discuss their calculations easily with any member of Leek United’s intermediary team – as well as faster results, with the streamlined calculator making it quicker to complete using the information contained within the brokers own fact find.
Leek United head of sales and marketing, Lisa Buckley, commented: “Our new affordability calculator is simple to use and enables brokers to obtain a quick and reliable result, confirming if the mortgage amount requested by their clients is affordable.
“The calculator can accommodate many different income streams including; employed, self-employed, pension and investment income. By entering just a few details, the new calculator reduces broker’s time and allows them to quickly get information.
“We’ve also added a unique code which also improves the experience for brokers when wanting to discuss an affordability calculation with our BDMs or underwriting team.”
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