Norton Home Loans has introduced an online decision-in-principle and a new two-tier affordability assessment to its broker portal, aimed at improving speed and certainty for advisers placing specialist cases.

The specialist lender, which has more than 50 years’ experience in the sector, said the changes are designed to reduce administration while maintaining underwriting standards for cases that fall outside mainstream criteria.

Norton Home Loans supports advisers with applications involving credit blips, affordability constraints, varied income streams and non-standard properties.

Its model includes direct access to underwriters and an approach it describes as common-sense and flexible.

SIMPLIFICATION

The newly launched online decision-in-principle allows brokers to submit cases more efficiently through the portal. Income input has been simplified so that advisers are required to enter gross income only.

Once submitted, the system automatically identifies the most suitable lending plan available, removing the need for brokers to assess product suitability manually at the outset.

Alongside this, the lender has introduced a two-tier affordability framework using Office for National Statistics modelled expenditure data at the first stage of assessment.

Where a case meets affordability requirements under the ONS-based model, brokers will not be required to provide a full month’s bank statement to evidence monthly expenditure.

If the modelled assessment does not support the application, advisers will be asked to input the client’s actual expenditure figures.

In such cases, one month’s personal bank statement showing all income credits and monthly outgoings will be required.

The lender said the changes form part of ongoing investment in technology to enhance the broker experience and provide faster clarity on lending decisions.

David Binney, head of sales at Norton Home Loans, said: “These enhancements to our portal give brokers added functionality and make it easier to submit business to Norton Home Loans.

“By simplifying income input and introducing a smarter affordability model, we’re able to provide quicker certainty for brokers and their clients, while still applying a thorough and common-sense approach to underwriting.

“Our focus is always on making the process as efficient and straightforward as possible for brokers, particularly when dealing with more complex cases.

“These latest updates are another step forward in supporting brokers to place business with confidence.”