94% of brokers say affordability has become even more complex in the last 12 months, according to new research from Mortgage Broker Tools (MBT).

This represents a major increase from the 86% of brokers who said affordability had become more complex when MBT conducted the same research last year.

According to the study, 89% of brokers say they have to work harder now than this time last year to secure the loan size their clients want, as a result of the cost-of-living crisis and rate rises.

Tanya Toumadj, CEO at Mortgage Broker Tools, said: “Affordability is getting more complex and brokers are having to work harder to secure the loan size their clients want. Given the cost-of-living crisis and recent rate rises this is perhaps an obvious statement, but the almost unanimous consensus amongst brokers is surprising.

“Affordability is quickly becoming the biggest issue in the mortgage market and we have certainly seen an uplift in the number of brokers registering to use MBT.

“As complexity increases, accuracy becomes even more important and MBT offers brokers the most accurate affordability platform available in the market.”