UK, March 02 2021: Mortgage technology expert Mortgage Brain and Harpenden
Building Society have collaborated on the development of a comprehensive new
affordability calculator which will now be available on the mutual’s intermediary-facing website.
The project is the first of its kind undertaken by Mortgage Brain, which worked closely with Harpenden to design a bespoke solution which met the mutual’s exact requirements. Before its development, Harpenden had relied on manual processes for calculating affordability, but the success of the calculator means that it will now be used internally by Harpenden staff for assessing Decisions in Principles (DIP), as well as being made available to the adviser community.
The development of the calculator comes with the added benefit of enabling Harpenden to be included on Affordability Hub, Mortgage Brain’s market-leading affordability-based sourcing solution.
Craig Middleton, Mortgage Sales & Distribution Manager from Harpenden Building Society said: “Affordability is a crucial consideration for mortgage lenders, advisers and customers alike, so we are thrilled to have our new affordability calculator in place. At Harpenden Building Society we are striving to improve our digital footprint and partnering with experts like Mortgage Brain helps us support our adviser community better.
Neil Wyatt, Sales & Marketing Director at Mortgage Brain, added: “While this is the first time we have developed an affordability calculator for a lender, it is a natural extension of what we do at Mortgage Brain. We are passionate about developing technology that supports the work of mortgage advisers and helps them find the right product for their client as swiftly as possible.”