The pilot began with advisers from Countrywide and Openwork, before expanding to Fluent Mortgages, John Charcol and The Right Mortgage Company, and saw £500m worth of mortgages assessed.
The full rollout will begin “in the coming months” Mortgage Brain said and is initially being offered to users of the firm’s Criteria Hub system.
After this is completed, it will then be made available to users of the Anywhere and Classic sourcing systems later in the year.
There will be no extra cost when Affordability Hub is added, and brokers using the 90-day free trial of Criteria Hub will also have access to the system.
Affordability Hub allows intermediaries to input information about the borrower and property in a standard form and then sends this to lenders’ affordability calculators and collates the results.
“It then provides intermediaries with a comprehensive summary of how much lenders will consider lending as well as recording each stage of the lender’s affordability calculation, ensuring they have a full audit trail to support their advice from a compliance perspective,” Mortgage Brain said.
At present 27 lenders are live on the system which account for around 85 per cent of the mortgages sold in the UK, Mortgage Brain said.
These include Accord, Bank of Ireland, Barclays, HSBC, Lloyds Banking Group, Nationwide, NatWest, Santander, Skipton Building Society and Virgin Money.
Mortgage Brain CEO Mark Lofthouse said the system will be available to thousands of intermediaries in the coming weeks.
“Throughout the pilot of Affordability Hub, intermediaries have told us that this system has transformed their advice process,” he said.
“The ability to access a single system which provides them with information from a host of lenders around precisely how much they are willing to lend their clients helps to deliver the best advice.”
