Legal & General has added six new buy-to-let (BTL) rental calculators and one new residential affordability calculator to its tech tool, SmartrFit.
The move includes partnerships with CHL Mortgages, Zephyr Homeloans, Cambridge Building Society, Family Building Society, Accord Mortgages and Marsden Building Society.
SmartrFit integrates affordability calculators, client criteria, product sourcing, and property checking functionality, to help advisers find solutions for their clients within minutes. L&G’s product sourcing tool also provides brokers with the ability to download compliant documents, including ESIS and Evidence of Research.
The SmartrFit tool is free to use and can be accessed by all advisers, including L&G Mortgage Club members, or via third parties including SimplyBiz Mortgages, One Mortgage System, and Smartr365.
Head of mortgage products and transformation at Legal and General Mortgage Services, Jodie White, said: “We are thrilled to welcome six new lenders to SmartrFit. The collaboration is just another way that we are using technology to support brokers in our fast-paced market.
“Ultimately, our goal is to highlight the wide-ranging benefits that introducing technology can bring to the mortgage industry. The time saved by brokers using integrated technology allows them to spend more time advising their clients. Our partnership with these lenders will bring real value to our users.”
Corporate account manager at Accord Mortgages, Ian Cunningham, added: “Working with L&G to get our BTL rental calculator within SmartrFit means we can add further support for brokers, so they can see not only our buy-to-let criteria but what we will lend to their buy-to-let landlord clients. The use of mortgage research tools is key in helping advisers work efficiently in the mortgage market today.”
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