The platform is used by brokers to research affordability, criteria, product rates and credit status across mortgages. MBT claims the platform returns results from lenders in less than a minute with accuracy.
The platform also creates a compliance audit trail which shows the details of the chosen product and how it was selected based on a combination of factors.
Tanya Toumadj (pictured), CEO at Mortgage Broker Tools, said: “House prices may have slipped, but affordability continues to be at the forefront of consideration for customers and brokers, as higher rates and the increased cost of living put a squeeze on borrowing power. A growing number of lenders are rising to this challenge, taking a more data-driven approach to developing targeted affordability propositions, and MPowered Mortgages is a good example of a lender is harnessing technology to deliver higher loan to income ratios than brokers might ordinarily expect.
“As lenders increase their appetite for business, we are likely to see more competition, not just on price, but also on affordability and criteria and platforms like MBT will empower brokers to research the full range of options quickly, easily and accurately. For every integration we complete, brokers have more opportunity to identify the most appropriate solution for their clients.”
Stuart Cheetham, CEO at MPowered Mortgages, added: “Often the best option for a client doesn’t come from a mainstream lender, but a rising, forward-thinking one like MPowered Mortgages. Integrating with MBT will enable brokers to quickly and easily research and compare our innovative proposition against more orthodox mortgage offerings, and we are confident that this will help brokers to better serve their clients.”
