Hundreds of searches per hour carried out on Affordability Hub
20 August 2020
- Thousands of advisers actively using Affordability Hub
- Affordability searches totalling over £10billion carried out in the 3 months since launch
UK, August 20, 2020: Advisers have embraced the revolutionary Affordability Hub sourcing system from mortgage technology expert Mortgage Brain, carrying out hundreds of searches every hour.
This affordability-based innovation allows advisers to source mortgage products for their clients based on the results from the affordability calculators available from participating lenders. This is part of Mortgage Brain’s vision which has transformed mortgage sourcing by combining product, criteria, and affordability sourcing.
Thousands of advisers have already recognised the benefit this can provide to them and their clients when identifying the right product and have embraced Affordability Hub since its formal launch in May. Adviser firms using Affordability Hub include Countrywide, Fluent Mortgages, John Charcol and Openwork, as well as large numbers of individual advisers with more on the way. To date affordability checks for loans worth a total of more than £10bn have been carried out.
Affordability Hub has been rolled out to all users of Mortgage Brain’s criteria-based sourcing system Criteria Hub and will be made available later this year to users of Mortgage Brain Anywhere and Mortgage Brain Classic. There is no added cost for the addition of Affordability Hub.
Paul Shearman, Mortgage, Protection and GI Proposition Director at Openwork, commented: “We’re really excited about this latest development from Mortgage Brain as for the first time ever our advisers will be able to enter the applicant’s income, expenditure, property and mortgage requirements in one place to run multiple lender affordability checks in one go. The feedback from our users has been overwhelmingly positive and we know this could be a real game changer for adviser efficiency at a time where affordability is a key consideration for both lenders and borrowers”.
Neil Wyatt, Sales & Marketing Director at Mortgage Brain, added: “Affordability Hub marks a change in the way that advisers are able to source the best product for their client, allowing them to quickly establish precisely how much various lenders will offer their client, providing a full audit trail along the way. The fact that so many advisers, large and small, are already making it an integral part of their sourcing process demonstrates the difference it is already making advisers’ workloads and their businesses.”
