86% of brokers believe that mortgage affordability is more complex than ever, according to research by Mortgage Broker Tools (MBT).

The survey conducted amongst more than 400 brokers found that 43% said they strongly agreed affordability is more complex than ever, with a further 43% saying they agree.

76% of brokers also agree that having access to accurate affordability calculations is more important than ever to help them navigate the complexity.

These results come from an upcoming Affordability White Paper, which has been commissioned as an independent study and will be available later this month. The researchers undertook a full study of the changing affordability landscape, how brokers integrate affordability into their advice process and how affordability can increase the number of lenders considered for a client and change lender recommendation.

Tanya Toumadj, CEO at Mortgage Broker Tools, said: “At MBT, we process a huge amount of data from live broker cases and we use this to educate the market about affordability and help lenders to refine their propositions. But we wanted to better understand the behaviours and attitudes of brokers when it comes to affordability.

“So, we commissioned researchers to undertake this independent White Paper to really get under the skin of today’s market. When it comes to the role of affordability in the advice process, the increasing complexity and the importance of accuracy, the results were conclusive.

“This is a key area of the market and it’s an area that is impossible to navigate without the right technology. We are looking forward to releasing more information later in the month about how brokers are using technology and what they want to see from lenders in the coming weeks.”