Knowledge Bank has launched a new residential affordability calculator for brokers called AffCalc.
The tool is available as an add-on for subscribers and will roll out fully in October, following a limited release today, 15th September.
AffCalc has been developed with broker feedback and aims to help brokers assess affordability without switching between multiple systems.
Brokers can edit client details as they go and see lenders drop off in real time, which gives more control and saves time at the advice stage.
Nicola Firth (pictured), CEO and founder, said: “We are incredibly proud to bring to market another industry first from Knowledge Bank, in the launch of our affordability calculator.
“Aff Calc delivers highly personalised and accurate results in seconds.
“It moves away from the “numbers-in-numbers-out” models and for the very first time provides brokers with an intelligent calculator which will only return results where the lender will lend taking into consideration criteria that affects affordability as well as the figures.”
Firth added: “This stops brokers from spending time on cases where the affordability fits but where it later falls down on criteria.
“Lenders can also have confidence in the cases they receive from brokers using Aff calc as it’s using criteria data input directly by them to drive reliable an accurate result.”
Jessica Folkes, head of mortgage sales at Dynamo, said: “This is a great new platform from Knowledge Bank.
“AffCalc will really help streamline sourcing cases and fundamentally helping more clients. Saving brokers from using multiple platforms for a single case.”
