Norton Home Loans has enhanced its broker portal by introducing an online decision in principle (DIP) and a new two-tier affordability assessment using Office for National Statistics (ONS) modelled expenditure.

The specialist lender has more than 50 years of experience in the sector and helps advisers place cases that don’t fit criteria. This includes those involving credit blips, affordability challenges, varied income types or non-standard properties.

Norton's new DIP allows for brokers to key cases more efficiently, with enhanced income input now requiring gross income only. The portal automatically identifies the best available lending plan for the customer upon submission, removing the need for brokers to manually assess product suitability at the outset.

The lender has also introduced a new two-tier affordability model, which is designed to speed up decision-making whilst maintaining underwriting standards.

The first stage assesses affordability using ONS modelled expenditure, meaning that brokers are no longer required to provide a full month’s bank statement to evidence monthly expenditure once the case passes this assessment.

In cases where affordability is not sufficient, brokers will be asked to input actual expenditure figures.

The lender said the enhancements form part of its investment in technology to improve broker experience, reduce unnecessary administration and deliver faster certainty for brokers and their clients.

Head of sales at Norton, David Binney, stated: "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."

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