Legal & General has reported that the number of possible lender outcomes for advisers using its SmartrFit tool has surpassed the one million mark.
SmartrFit, which combines a mortgage search criteria tool with an affordability calculator, helps advisers by improving the efficiency with which they can identify suitable mortgage lenders for their clients.
According to L&G, it eliminates close to a third (29%) of searches which would otherwise return unsuitable results at the criteria stage.
The latest data revealed that SmartrFit has now delivered accuracy for advisers across 1,066,504 lender outcomes to improve the quality of search results and reduce the time it takes to process residential purchase cases. L&G suggested this is essential for the advisers who are processing a significant number of applications due to the stamp duty holiday.
Legal & General head of mortgage transformation and operations, Clare Beardmore, commented: “With many advisers currently processing applications containing complex financial situations due to the pandemic, combined with the demand from the stamp duty holiday, there’s never been a more beneficial time to have an intelligent lender sourcing tool at their disposal.
“By combining search and affordability functionality, advisers benefit from a free, easy to use platform which saves time and helps them place cases much more efficiently and with greater accuracy.”
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