Suffolk Building Society has worked with Mortgage Brain to develop an affordability calculator.
The new calculator has been designed to be more intuitive for broker users and make it more straightforward for advisers to identify the maximum loan available to their clients. This is made possible through the ability to build in scaled loan-to-income calculations, increasing up to 5.5 times income for high earners.
In addition, Suffolk Building Society ‒ which recently rebranded from Ipswich Building Society ‒ is live on both Criteria Brain and Affordability Brain, Mortgage Brain’s criteria and affordability based sourcing solutions.
Charlotte Grimshaw (pictured), head of intermediary relations at Suffolk Building Society, said: “We are delighted to be working with Mortgage Brain to offer a well-rounded affordability calculator. The enhancements we have been able to make will help brokers take the guesswork out of affordability calculations.
“This comes at the perfect time with our rebrand to Suffolk Building Society and our aim to improve broker experience when trying to find a solution for their clients.”
Neil Wyatt, sales and marketing director at Mortgage Brain, added: “At Mortgage Brain we are committed to developing the tools and processes that can help intermediaries work more efficiently and deliver an even better service to their clients. This affordability calculator is a perfect example of an innovation that does just that.”
