Northern Rock has added an improved online affordability calculator to its Intermediary website.

Following feedback from mortgage intermediaries, the calculator is designed to provide clients with a more accurate illustrative borrowing figure up front.

Northern Rock says this represents a key initiative for the lender as it moves to a model that assesses customer affordability, as opposed to an assessment based up upon an income multiple, which the company maintains is a more responsible approach to lending.

The interactive tool is now available on Northern Rock’s intermediary website at www.northernrock.co.uk/intermediaries with a user guide, a Frequently Asked Questions area and an application checklist to ensure each case can be processed quickly and efficiently once submitted.

Northern Rock says that provided accurate income and expenditure details are inputted, the resulting illustration will be clearer, more precise and consistent.

Lloyd Cochrane, head of mortgage products at Northern Rock, said: “We listen to our intermediary partners and this online affordability calculator and its supporting tools have been developed as a direct result of feedback we’ve received from them.