Mortgage Broker Tools (MBT) has integrated its MBT Affordability research platform with Even, a new lender offering second charge equity loans to support first-time buyers.

The exclusive integration will allow brokers to see if their first-time buyer clients could achieve the loan size they want with the help of an interest-free shared equity loan.

Even can lend up to 20% the value of the property to buyers who have saved a 5% deposit, with no interest is payable for the entire term of the loan – up to 35 years.

The new integration means that when brokers carry out an affordability request, eligible cases will show the results of how much a client could borrow if they were to combine a shared equity loan from Even, with a standard first-time buyer mortgage.

MBT CEO, Tanya Toumadj, commented: “The latest MBT Affordability Index shows that on 30% of first-time buyer cases there is currently no lender able to meet the loan size requested by the borrower. And it’s in these situations that a lender like Even can help – providing an interest-free equity loan to help first-time buyers achieve their goals.

“We’re really pleased to work with Even on this integration and we are sure it will prove a popular addition to the MBT Affordability platform.”

Even co-founder and COO, James Turford, added: “We’ve designed a product to help first-time buyers who are restricted by either salary or deposit size, and don’t have access to the ‘bank of mum and dad’.

“We can lend up to two times their deposit through a second charge, interest-free equity loan, and share the profit, or loss, when the homeowner pays us back. Restricted affordability is a huge obstacle for first-time buyers.

“We’re looking forward to helping brokers solve this key issue for their customers and are really excited to be partnering with MBT to give the thousands of brokers who use their tool a new solution for the first-time buyer market.”

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