Legal & General (L&G) has regenerated of its flagship tech tool SmartrFit, featuring new residential and BTL affordability calculators from nine leading lenders.
L&G has significantly expanded its affordability tool available through SmartrFit following partnerships with Harpenden Building Society, Principality Building Society, Hinckley & Rugby Building Society, The Mortgage Lender, Stafford Railway Building Society, Marsden Building Society, Suffolk Building Society, Buckinghamshire Building Society and Nottingham Building Society (also known as The Nottingham).
Hinckley & Rugby Building Society, Stafford Railway Building Society, Suffolk Building Society, Buckingham Building Society and Nottingham Building Society have also added BTL products to SmartrFit’s affordability calculator for the first time.
Jodie White, head of mortgage products & transformation at Legal and General, said: “We are delighted to mark the third anniversary of the launch of our tech offering with a significant package of new features, setting up our fantastic community of users for an even better new year.
“The mortgage market has moved quickly, so it’s only right that the tech tools used to support it also see the same rate of development.
“Technology will only grow in importance in our industry, and this is just the beginning of our offering.
Additionally, Harpenden Building Society, Marsden Building Society, The Mortgage Lender, and Principality Building Society have added their residential products to SmartrFit’s affordability tool.
Crucially, Legal & General has also announced an overhaul of its tech offering, integrating all tech tools developed in the three years within SmartrFit, including SmartrCriteria.
SmartrFit is now a comprehensive mortgage research and product sourcing platform.
Its features include a criteria tool (formerly known as SmartrCriteria), an affordability calculator, product sourcing and a property checker tool.
This functionality is available for residential and BTL products.
White added: “Further tech innovation will be crucial in 2023 to improve the mortgage journey and to allow stretched advisers to best meet demand from borrowers.
“We look forward to introducing new modifications and inventions in the coming months, ensuring SmartrFit users have the tech of tomorrow today.”
