You are here: cherry > Press releases for June 2020 > Affordability Hub passes £1.5bn mortgage milestone and secures over 1,000 new users within weeks

Affordability Hub passes £1.5bn mortgage milestone and secures over 1,000 new users within weeks

15 June 2020

UK, June 15 2020: Advisers have carried out affordability searches for mortgages worth a total of more than £1.5 billion on Mortgage Brain’s affordability-based sourcing solution Affordability Hub, just weeks after the roll out started.

Affordability Hub is the latest innovation from mortgage technology expert Mortgage Brain. After filling out a standard form covering information about the borrower and property, Affordability Hub simultaneously runs the data through selected lender’s affordability calculators with results returned in around a minute. A summary of how much the various lenders will consider lending the client together with a detailed report, including screen shots, provides advisers with a full audit trail to support compliance.

Affordability Hub was rolled out from the middle of May, initially to users of Mortgage Brain’s criteria-based sourcing solution Criteria Hub, ahead of being made available to users of Mortgage Brain Anywhere and Mortgage Brain Classic. It has already proven incredibly popular with advisers, with over 1,000 advisers using the platform to search for mortgages worth a total of more than £1.5 billion.

Stuart Gardner at Sanderson Financial comments: “Today I had already sourced for a client as I knew the specific lender criteria on income types. However, I input the details on Affordability Hub to use the software as an experiment for the same client; if I had done this earlier in the day, I would’ve saved a lot of time, as the results confirmed my findings in just a few data input screens. This is without doubt, the best facility I have ever used.”

Mark Lofthouse, CEO at Mortgage Brain, said: “Advisers know only too well that one of the first things any client wants to know is how much they will be able to borrow. Affordability Hub is like ‘Skyscanner for mortgage affordability’ and allows them to swiftly answer that question and provides them with the option of sourcing by affordability as well as product availability and criteria. The fact that over 1,000 new users have adopted Affordability Hub in a matter of weeks and mortgages worth a total of more than £1.5 billion have already been sourced shows how valuable this service is for advisers and their customers.”

Mortgage Brain is transforming mortgage sourcing by delivering and combining the three main elements required when sourcing the most appropriate mortgage, namely the products available, criteria and affordability.