Mortgage Broker Tools (MBT) has surpassed two million affordability searches on its platform, achieving the latest milestone in less than two years since hitting the one million mark in 2023.

The firms says the rise reflects a shift among brokers towards an affordability-first approach, as more firms embed the technology into the core of their mortgage advice process. The platform, launched in 2019, was the first to prioritise specialist affordability sourcing and has since become integral to the way many brokers identify appropriate lending options.

COMPLEXITY

MBT’s software analyses a combination of affordability, criteria, product rates and credit status to help advisers pinpoint suitable lenders more efficiently. Its usage has expanded rapidly as brokers respond to the growing complexity of client circumstances and lender requirements.

Tanya Toumadj (pictured), chief executive at Mortgage Broker Tools, said the new benchmark underlined the increasing reliance on affordability data in the mortgage market. “The fact that MBT has now delivered more than two million affordability searches shows how important this part of the mortgage process has become,” she said.

“A recent report found that just under a third of property sales fall through, with the most common cause being ‘difficulty securing a mortgage’. As cases become more complex and lender criteria more nuanced, finding the right lender to meet a customer’s affordability requirements is increasingly important – and brokers are turning to technology to make research faster, more accurate and more consistent.”

Toumadj added that the platform had seen notable growth in the number of brokers using its API integrations. “Where integrations are in place, affordability searches are run automatically on 100% of cases. It’s a great example of tech taking the strain, helping to deliver better outcomes for customers while also improving efficiency and compliance for advisers.”