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.
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS