Kensington has launched a new affordability calculator, aimed at streamlining the process for brokers and delivering more accurate outcomes.
It has been developed to maximise the use of available data and provide brokers with an accurate figure as part of the online application process, meaning that brokers no longer need to support applications with a supplementary expenditure form.
In addition, the standalone calculator that is available to intermediaries on the Kensington website ahead of logging in to the application system will now deliver a more accurate indication of how much the lender will be able to lend, subject to credit score.
Steve Griffiths (pictured), director of sales and distribution at the Northview Group, said: “Affordability is a fundamental part of mortgage lending and we have invested to deliver a new affordability calculator that uses data more intelligently.
“The immediate benefits of this are a more streamlined process and more accurate outcomes for brokers whether they are using the standalone calculator or submitting an application.”
