Mortgage Brain and Harpenden Building Society have come together to develop a new affordability calculator which will now be available on the mutual’s intermediary-facing website.
 
The project is the first of its kind undertaken by Mortgage Brain, as the mortgage technology expert worked closely with Harpenden to design a bespoke solution which met the mutual’s exact requirements.

Before its development, the society had relied on manual processes for calculating affordability, but the calculator means that it will now be used internally by Harpenden staff for assessing Decisions in Principles, and will it be made available to the adviser community.

As part of the collaboration, Harpenden is to also be included on Mortgage Brain’s affordability-based sourcing solution, Affordability Hub.
 
Harpenden mortgage sales and distribution manager, Craig Middleton, commented: “Affordability is a crucial consideration for mortgage lenders, advisers and customers alike so we are thrilled to have our new affordability calculator in place.

“At Harpenden, we are striving to improve our digital footprint and partnering with experts like Mortgage Brain helps us support our adviser community better.
 
Mortgage Brain sales and marketing director, Neil Wyatt, added: “While this is the first time we have developed an affordability calculator for a lender, it is a natural extension of what we do at Mortgage Brain.

“We are passionate about developing technology that supports the work of mortgage advisers and helps them find the right product for their client as swiftly as possible.”

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