Pepper Money has unveiled a residential affordability calculator on its website to help brokers establish how much the specialist lender would be able to offer their clients.

The new calculator provides brokers with accurate calculations of how much their clients are able to borrow, on both a two and five-year product term, whatever their circumstances, including clients who are self-employed, work as contractors or earn complex or multiple source of income.

Last month, Pepper Money launched a buy-to-let affordability calculator to provide brokers with accurate calculations of how much their clients are able to borrow, whether they are applying in their own name, or as a limited company.

Paul Adams (pictured), sales director at Pepper Money, said: “A growing number of people are earning bonuses and overtime, multiple income sources or working on a contractor or self-employed basis. This can make it more difficult for brokers to understand how much their clients wanted to borrow, so we have made the process much easier with the launch of our simple online calculator.

“By entering just a few details, brokers can quickly get accurate information about how much their clients are able to borrow across our range of products. And this means that brokers can provide clients with more clarity and more certainty. This is just one of the ways that we are making it easier for brokers to do business.

“We have already introduced a buy-to-let affordability calculator and Electronic ID verification so far this year, and we have plans for many more enhancements in the coming months.”