The Mortgage market Review-compliant calculator gives full consideration to an applicant’s outgoings as well as income, providing an illustrative figure for intermediaries before they carry out a full credit search as part of the Decision in Principle.

Kensington launched its new application portal, featuring document uploads, online fee payment, improved case tracking and streamlined process and visuals yesterday.

Alex Hammond, head of marketing and communications at Kensington, (pictured) said: “We know how important it is for brokers to be able to get a quick understanding of how much their clients could borrow. It factors in different sources of income and outgoings before calculating a figure and while it is not a commitment to lend, we believe it is the most accurate pre-login affordability calculator we have ever built.

“But there is still plenty more to come from Kensington, and we are looking forward to making another exciting announcement next week.”

For the new affordability calculator, click HERE.

Sponsored

Giving brokers the winning edge

Sponsored by Rely