Mortgage Broker Tools (MBT) has surpassed two million affordability searches on the platform – less than two years after hitting its one million milestone.
This growth reflects increased broker adoption of the platform as firms integrate MBT directly into their mortgage advice process.
Launched in 2019, MBT aims to support brokers in finding the most suitable lending options based on a combination of affordability, criteria, product rates and credit status.
Tanya Toumadj (pictured), CEO at Mortgage Broker Tools, said: “The fact that MBT has now delivered more than two million affordability searches shows how important this part of the mortgage process has become.
“A recent report found that just under a third of property sales fall through, with the most common cause being ‘difficulty securing a mortgage’.
“As cases become more complex and lender criteria more nuanced, finding the right lender to meet a customer’s affordability requirements is increasingly important – and brokers are turning to technology to make research faster, more accurate and more consistent.”
She added: “As part of this increased demand, we have seen a big uplift in the number of brokers using API integrations to embed MBT into their advice process.
“Where integrations are in place, affordability searches are run automatically on 100% of cases.
“It’s a great example of tech taking the strain, helping to deliver better outcomes for customers while also improving efficiency and compliance for advisers.”
