Affordability calculator launched by Suffolk Building Society following Mortgage Brain collaboration
02 December 2021
UK, December 02, 2021: Suffolk Building Society has partnered with mortgage technology expert Mortgage Brain to develop an affordability calculator.
The new calculator has been designed to be more intuitive for broker users and make it more straightforward for advisers to identify the maximum loan available to their clients. This is made possible through the ability to build in scaled loan-to-income calculations, increasing up to 5.5 times income for high earners.
Alongside the launch of the calculator, Suffolk Building Society ‒ which recently rebranded from Ipswich Building Society ‒ is live on both Criteria Brain and Affordability Brain, Mortgage Brain’s criteria and affordability based sourcing solutions.
This is Mortgage Brain’s second collaboration with a building society on the development of an affordability calculator in recent months, following the delivery of a calculator for Scottish Building Society.
Charlotte Grimshaw, Head of Intermediary Relations, Suffolk Building Society said: “We are delighted to be working with Mortgage Brain to offer a well-rounded affordability calculator. The enhancements we have been able to make will help brokers take the guesswork out of affordability calculations. This comes at the perfect time with our rebrand to Suffolk Building Society and our aim to improve broker experience when trying to find a solution for their clients.”
Neil Wyatt, sales and marketing director at Mortgage Brain, added: “At Mortgage Brain we are committed to developing the tools and processes that can help intermediaries work more efficiently and deliver an even better service to their clients. This affordability calculator is a perfect example of an innovation that does just that.”
