MBT said it welcomed the addition of the lender to its affordability research platform.
Vida Homeloans specialises in complex mortgage cases and uses cutting-edge technology to deliver what it claims is an efficient and differentiated customer experience. The lender has 270 products, across residential, buy to let, houses in multiple occupancy (HMOs), multi-unit blocks, flats above commercial properties and expat investors.
MBT Affordability provides brokers with a calculation of how much their clients can borrow. It features a panel of more than 40 residential and 66 buy-to-let lenders, based on affordability and criteria; results are delivered in under a minute, with no approximations or estimates.
Tanya Toumadj (pictured), chief executive at MBT, said its data showed that even lenders rated highly on their affordability criteria were not always among the top 10 lenders when a more in-depth search was carried out.
She said: “It’s really important for brokers to carry out extensive research to ensure they are able to identify the most suitable solution for their clients.”
“The easiest way to do this is to use the technology platform with the most extensive panel in the market and at Mortgage Broker Tools we are committed to continue to deliver just that. This integration with Vida adds new affordability options for brokers and their clients, and will be particularly useful for customers with low credit scores and complex incomes.”
Richard Tugwell, director of mortgage distribution at Vida Homeloans, said the integration with MBT Affordability was an important step for Vida.
He said: “Unravelling complicated situations and helping customers often ignored by high street lenders, is an important element of our proposition.
“MBT provides an invaluable tool for brokers to help them understand which lenders offer the best affordability options for their clients. This is particularly useful for customers with complex income as there is a large variance in the loan sizes available to them and specialist lenders, like Vida, can often provide the most suitable solution.”
