BrokerSense’s new tool queries every residential lender on the market in one place
BrokerSense has developed a tool to query every residential lender on the market in one place, using customer financial information.
The application takes customer income and expenditure, and in under ten seconds returns the results from every lender in one easy to understand table and chart.
Features of the tool:
- Low monthly pricing: Just £5 per user, per month for unlimited checks
- Provides options for Shared Ownership and Help to Buy
- Includes results from all 52 residential UK lenders
- Provides an easy to read graph showing the spread of lender results clearly
- Produces a PDF report showing graph and results for compliance files
- Brokers can view images of all affordability calculators to ensure trust in the results
- An API is available meaning larger brokers can integrate this into their CRM’s, chatbots, websites, etc., if they wish
Mark and Stuart, BrokerSense founders, feel that there are three aspects to giving mortgage advice: sourcing, criteria and affordability. Sourcing has been well served in the industry, but only recently has criteria and affordability been tackled effectively. They believe that broker CRM systems are the lynchpin of the process, and their API makes it simple to include these results in alongside sourcing and customer fact finding. Reception from brokers has been outstanding and clients particularly appreciate the comprehensive spread of lenders, fast result, confidence through screenshots and low price point. Competitors have managed to get data from around half the lenders on the market but are doing so for a vastly higher price, charging £2.50 a search.
Malcolm Davison, of innovative UK broker UKMoneyMan, says:
“BrokerSense’s affordability calculator is a real time-saving tool, having all the Lenders’ calculators in once place is a real godsend. You can be really surprised by the output and a Lender comes to mind that you wouldn’t necessarily have thought would have done the deal.”
A BTL product is in testing currently and will be available to all in the coming months, which will factor top-slicing, and a client’s portfolio, including a visual representation of their portfolio so brokers can see the effects of additional borrowing in real time rather than relying on spreadsheets.
Kindly shared by BrokerSense