The online DIP allows brokers to key cases more efficiently, with enhanced income input now needing gross income only.
When the case is identified, the portal finds the best available lending plan for the customer, removing the need for brokers to manually assess product suitability.
The two-tier affordability model aims to speed up decision-making and retain robust underwriting standards.
The first stage assesses affordability using Office for National Statistics (ONS)-modelled expenditure, and when a case passes this assessment, brokers no longer need to provide a full month’s bank statement to evidence monthly expenditure.
When the modelled affordability is not sufficient, brokers will be asked to input actual expenditure figures with one month’s personal bank statements.
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Norton Home Loans said this is part of an “ongoing investment” in technology to better the broker experience, reduce unnecessary administration and deliver more certainty for brokers and clients.
David Binney (pictured), head of sales at Norton Home Loans, said: “These enhancements to our portal give brokers added functionality and make it easier to submit business to Norton Home Loans. By simplifying income input and introducing a smarter affordability model, we’re able to provide quicker certainty for brokers and their clients, while still applying a thorough and common-sense approach to underwriting.
“Our focus is always on making the process as efficient and straightforward as possible for brokers, particularly when dealing with more complex cases. These latest updates are another step forward in supporting brokers to place business with confidence.”
