Cumberland Building Society has launched an affordability calculator designed to streamline the mortgage application process for brokers.
The calculator enables brokers to assess mortgage affordability for their clients without needing to contact Cumberland directly, therefore speeding up the application process.
The Cumberland head of intermediary lending, Grant Seaton, said: “This tool is a game-changer for both brokers and our team.
“The introduction of the affordability calculator empowers brokers to engage with us anytime, significantly reducing the application process by up to two days.
“Since the formation of the intermediary lending team in 2021, we have made remarkable strides, particularly in our digital capabilities.
“Previously, our processes were entirely manual, and we recognised the need for improvement to strengthen our competitive edge by implementing key projects, including this dedicated affordability calculator for brokers.
“This implementation moves us another step along the way of producing the best possible solutions for our intermediary partners, although we are not stopping there and are looking forward to future enhancements that will be announced soon.”
The calculator was developed in response to broker feedback, ensuring it aligns with market needs.
The tool marks an advancement in The Cumberland’s digital offering following the expansion of the lender’s mortgage intermediary proposition, further strengthening its commitment to delivering fast, accessible, and user-friendly solutions for brokers.
PBS Independent Financial Advisers mortgage and protection adviser, Gareth Watts, said: “We continue to be impressed with the Cumberland as a lender and look forward to continuing working with them.
“The calculator looks great - straightforward and easy to use.
“I expect it will be an asset and a great addition to the society’s dedicated relationship managed service.”
tom.dunstan@ft.com
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