As a result, brokers no longer have to log onto the internet to use the calculator giving greater flexibility of this useful selling aid.
This is the latest in a package of initiatives from Intelligent Finance to help brokers place business. Brokers can now place all business online with all Intelligent Finance mortgages being available over the internet – including the six new offset products and the non-offset mortgage range. The bank's broker website –www.brokers.if.com – also includes an updates section giving the latest information on products and services from the bank, confirmation of the bank's lending criteria and details on verification required during an application. Brokers can also order stocks of up-to-date product literature via the website, which will be delivered to them within 48 hours.
Brian Ewing, Head of Intermediary Sales at Intelligent Finance, said: "Brokers who have already used the online version of the calculator will know how easy it is to use and will have seen the benefits that it can give in demonstrating offset to clients. This off-line version is a major step forward in Intelligent Finance supporting brokers by enabling them greater flexibility in accessing the tool."
The calculator is a graphic way of demonstrating how offsetting can save clients' money. Initially launched as an online-only version, the calculator was devised by iteration::two and uses a single screen to ensure an uninterrupted journey using cinematic transitions and real-time charts to graphically illustrate the benefit of offsetting.
Brokers can input property value, loan amount, term required and then choose from one of the six offset products available from Intelligent Finance. They then have the ability to input information on the client's savings and current account balances. Additionally, regular overpayments or occasional lump sum payments can be entered to demonstrate the potential impact on the offset mortgage.
The charts demonstrate the impact of offsetting and a handy summary at the end of the calculation highlights the total interest charged on the mortgage, interest saved through offsetting and any term reduction that may result.
Brian added: "We firmly believe that the internet is a powerful tool for brokers and have introduced a number of enhancements to our broker website. However, we recognise that brokers may choose not to be on the internet whilst talking to clients and providing our mortgage calculator in a downloadable version means that we can provide this vital tool to a broker, in whatever format suits them best."
