Legal & General has added Gen H’s affordability calculator to its flagship tech tool, SmartrFit.

The group’s SmartrFit tool provides free access to all advisers using an L&G agency number, including Legal & General Mortgage Club members, or via third parties including SimplyBiz Mortgages, One Mortgage System, and Smartr365.

In November 2022, L&G acquired an 18.75% stake in Gen H, following a Series B funding round. The group is supporting Gen H to launch innovative mortgage products and technology solutions to meet the needs of underserved homeowners.

Gen H is a residential mortgage lender which lends up to 95% loan-to-value (LTV) and 5.5 times income for first-time buyers, home movers and those looking to remortgage. For mortgages with a 95% LTV, the maximum loan size is £500,000, or £700,000 in London and the South East.

“We’re delighted that advisers will now be able to check a client’s affordability for Gen H products through SmartrFit,” commented Gen H chief executive officer, Will Rice.

“Affordability continues to be one of the main barriers to first-time buyers getting onto the property ladder, which is why it is vitally important that customers get an accurate understanding of how much they could borrow based on their individual circumstances. Anything that makes this easier, like this latest integration, will benefit the end customer.”

In order to help best serve advisers, L&G has also added three more buy-to-let affordability calculators to SmartrFit from Swansea Building Society, Vernon Building Society, and Landbay.

Head of product and transformation at L&G Mortgage Services, Jodie White, added: “Integrating Gen H’s innovative affordability calculator to SmartrFit is just another way that we are using technology to support our fast-paced market.

“We have seen adviser searches for first-time buyers grow on our SmartrFit tool since the start of the year, while the number of higher LTV products, typically relied on by first-time buyers, continues to steadily improve. It is vital that we continue to advance our support for aspiring buyers and their advisers, all operating in a busy period.”

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