MBT Affordability launches with Dynamo for Intermediaries
Mortgage Broker Tools (MBT) has launched a partnership with Dynamo for Intermediaries to provide its 3,000 members with easy access to MBT Affordability, including BTL Affordability and MBT Criteria Search.
Members of Dynamo for Intermediaries will be able to use the MBT Affordability calculator to find out how much their landlord clients can borrow from a panel of more than 65 buy-to-let lenders, based on affordability and criteria. Results from all of the lenders will be delivered in under a minute, with no approximations or estimates.
In addition, members of Dynamo for Intermediaries will also have access to research the affordability calculators of more than 40 residential lenders and, for a limited period, they will also have free access to MBT Criteria Search, which provides brokers with a free text search bar that allows them to research any criteria term from any number of lenders on the panel.
Mortgage Broker Tools launched MBT Affordability in early 2019 and the platform has already surpassed 10 million searches on mortgage cases worth more than £80 billion, winning a number of awards in the process. In July 2020 it launched BTL Affordability to pioneer a new approach to affordability research in the Buy to Let space, with calculations for limited companies and investors buying in their own name based on both the ICR of the property and top slicing.
Ying Tan, founder and chief executive at Dynamo for Intermediaries, said: “Affordability is important to buy-to-let landlords as many are keen to get the most from their capital by maximising their leverage. But calculations are not as straightforward as they used to be, with many lenders taking different approaches to stress testing and personal income, so choosing the right lender can be complicated and time-consuming. This is where a platform like MBT Affordability can help. With access to more than 65 buy-to-let lenders from one simple calculator, brokers can identify the most appropriate route for their landlord clients within minutes.”
Tanya Toumadj, CEO at Mortgage Broker Tools, said: “Our research has found that the choice of lender for a buy-to-let client can make a huge difference to the size of loan they are able to access, so it’s really important for brokers to carry out affordability research to make sure their clients aren’t missing out. BTL Affordability provides brokers with complete coverage of the market with one, easy to use, calculator that gives accurate eligibility calculations based on the affordability calculators and criteria of 65 buy-to-let lenders, and we are delighted to make it available to members of Dynamo for Intermediaries.”
