MBT Affordability integrates with MFS
Mortgage Broker Tools (MBT) has added MFS to its MBT Affordability research platform.
MBT Affordability, which already features the largest panel of residential and buy-to-let lenders of any affordability platform, will now also include accurate buy-to-let calculations direct from MFS.
Already a well-established lender in the bridging market, MFS launched its buy-to-let proposition earlier this year, focusing on complex cases with specialist requirements. MFS is able to lend on a range of property types, including unlimited size HMOs, and MUFBs up to 30 units, as well as holiday and student lets. It can also lend to foreign nationals, including those with no UK footprint.
MBT Affordability provides brokers with accurate calculations of how much their clients can borrow from a panel of more than 40 residential and nearly 70 buy-to-let lenders, based on affordability and criteria. Results from all lenders are delivered in under a minute, with no approximations or estimates.
Tanya Toumadj, CEO at Mortgage Broker Tools, said: “A growing number of property investors are looking to more complex investments, like HMOs, MUFBs and holiday lets. Understanding the options for mortgages on these properties can be complicated as lenders each have their own way of assessing income and calculating affordability. So, technology is crucial in helping brokers to navigate the market and understand the best options for their clients.
“At Mortgage Broker Tools, we offer the most comprehensive buy-to-let affordability calculator available, with nearly 70 lenders, including those with specific expertise in more specialist types of investment. MFS is one such lender, providing brokers with options to place even the most complex of investment cases. This integration will provide brokers with more opportunities to identify the best affordability options for their landlord clients, who are traditionally keen on achieving the best available leverage on their investment.”
Mike Cook, chief mortgage officer at MFS said: “We’ve already received great broker feedback on our buy-to-let proposition and we have an ambitious growth mindset. One of our strengths is flexible ICR and large loan sizes to makes cases fit, and this matches Mortgage Brokers Tools unique strength of using a whole batch of lenders’ affordability calculators in real time, to compare what lenders can offer. Mortgage Broker Tools integrates this with product sourcing and criteria so specialist brokers can save time and energy using one system to get the best deals, and is great for lenders like MFS to show what we can do to the wider market.”