The project is the first of its kind for Mortgage Brain, which worked closely with Harpenden to design a bespoke solution to replace the society’s manual affordability calculation process.
Staff also plan to use the calculator internally for decision in principle (DIP) assessments and make it available to brokers.
As a result, the Harpenden can also be included on Affordability Hub, Mortgage Brain’s affordability-based sourcing solution.
Craig Middleton, mortgage sales and distribution manager for Harpenden Building Society (pictured) said: “Affordability is a crucial consideration for mortgage lenders, advisers and customers alike so we are thrilled to have our new affordability calculator in place.
“At Harpenden Building Society we are striving to improve our digital footprint and partnering with experts like Mortgage Brain helps us support our adviser community better.”
Neil Wyatt, sales and marketing director at Mortgage Brain, added: “While this is the first time we have developed an affordability calculator for a lender, it is a natural extension of what we do at Mortgage Brain.
“We are passionate about developing technology that supports the work of mortgage advisers and helps them find the right product for their client as swiftly as possible.”