Nottingham Building Society has announced a new partnership with Mortgage Broker Tools (MBT).
The collaboration will enable The Nottingham to access the solutions offered by MBT’s mortgage market research, by integrating the group’s technology into its operations.
MBT provides brokers with a platform that compares the eligibility of lenders in terms of affordability, criteria, products, and service levels for both residential and buy-to-let mortgages. The firm has over 5,500 monthly active brokers who process 60,000 mortgage cases monthly, totalling £12bn.
Research by the platform recently indicated that affordability has become a critical issue for brokers, with 94% suggesting it has become more complex over the past 12 months.
National sales manager at The Nottingham, Matt Kingston, commented: “Our brokers and BDMs have eagerly anticipated The Nottingham’s presence on MBT, so we are proud to make that a reality.
“We have made some significant enhancements to our residential affordability in the past 12 months and early indicators from MBT data is very encouraging with a higher proportion of customers meeting our affordability than the industry average. It’s fantastic to partner with an innovative company like MBT and Tanya and the team have been brilliant to work with.”
MBT CEO, Tanya Toumadj, added: “We are thrilled to welcome Nottingham Building Society to our panel of lenders. As the mortgage market continues to evolve, our partnership aims to provide brokers with even greater choice and options. Having The Nottingham on board is a real boost to our offering.”
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