It will now include buy-to-let calculations direct from the lender
Mortgage Broker Tools (MBT) has integrated its MBT Affordability research platform with MFS, a bridging lender that also launched its buy-to-let proposition earlier this year.
MFS can lend on a range of property types, including unlimited size HMOs, and MUFBs up to 30 units, as well as holiday and student lets.
MBT Affordability, which already features a panel of over 40 residential and nearly 70 buy-to-let lenders, will now also include accurate buy-to-let calculations direct from MFS. It said its affordability research platform provides brokers with accurate calculations of how much their clients can borrow, and results from all lenders are delivered in under a minute, with no approximations or estimates.
Tanya Toumadj (pictured), chief executive at Mortgage Broker Tools, explained that as lenders each have their own way of assessing income and calculating affordability, technology is crucial in helping brokers to navigate the market and understand the best options for their clients.
“At Mortgage Broker Tools, we offer the most comprehensive buy-to-let affordability calculator available, with nearly 70 lenders, including those with specific expertise in more specialist types of investment,” Toumadj said.
“MFS is one such lender, providing brokers with options to place even the most complex of investment cases. This integration will provide brokers with more opportunities to identify the best affordability options for their landlord clients, who are traditionally keen on achieving the best available leverage on their investment.”
Mike Cook, chief mortgage officer at MFS, shared they have already received great broker feedback on their buy-to-let proposition and that they have an ambitious growth mindset for it.
“One of our strengths is flexible ICR and large loan sizes to makes cases fit, and this matches Mortgage Brokers Tools’ unique strength of using a whole batch of lenders’ affordability calculators in real time, to compare what lenders can offer,” Cook said. “Mortgage Broker Tools integrates this with product sourcing and criteria so specialist brokers can save time and energy using one system to get the best deals, and is great for lenders like MFS to show what we can do to the wider market.”