Mortgage Broker Tools launches BTL Affordability

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  • 28/07/2020
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Mortgage Broker Tools launches BTL Affordability
Mortgage Broker Tools (MBT) has extended its affordability platform with a buy-to-let calculator.

 

Based on the affordability calculator and criteria of 65 buy-to-let lenders, brokers will be able to research how much landlord clients can borrow based on the interest cover ratio (ICR) of a property and their own income.  

BTL Affordability also keeps a record of cases and affordability results and compiles an automatic compliance audit report.  

It is available on its own or as a bundle with the MBT Affordability Residential calculator, and a month’s free trial is available to brokers.  

Tanya Toumadj (pictured), CEO at Mortgage Broker Tools, said: “Buy to let still accounts for nearly 15 per cent of all lending and demand is likely to be particularly high in the coming months as landlords take advantage of the temporary reduction in stamp duty.

However, affordability calculations are no longer straightforward. 

“Until now there has been no easy way for brokers to research how much their landlord clients could borrow across a number of lenders,” Toumadj added. 

 

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