Mortgage Broker Tools names top 5 Residential lenders for affordability

24 March 2021

Mortgage Broker Tools (MBT) has named the top five Residential lenders for affordability based on two million searches processed through the MBT Affordability platform in the last two months.

Overall, the top lender for affordability on Residential cases was Aldermore, followed by Ipswich Building Society in second place, and West Bromwich Building Society was in third. In fourth place was Teachers Building Society and Accord Mortgages was fifth.

For Remortgages, MBT gave a special mention to Nottingham Building Society, Leeds Building Society and Natwest. While Barclays, Clydesdale Bank and Digital Mortgages by Atom all gave particularly strong results on loan sizes over £1m.

For self-employed customers and business owners, MBT also highlighted Coventry Building Society, Pepper Money and The Mortgage Lender.

Residential mortgage applicants with a Buy to Let portfolio are particularly well served by HSBC thanks to its affordability rules regarding properties in the background.

Tanya Toumadj, CEO at Mortgage Broker Tools, said: “We process millions of cases through MBT Affordability and regularly publish data about the affordability landscape, so we thought it would be interesting to publish a quick snapshot into which lenders are particularly strong on affordability in the current environment.

“This doesn’t mean they are the best lenders for every client, of course. Every case is different and a client’s circumstances, expectations and objectives will have a large impact on the right choice of lender. This is why we have built a criteria tool that works alongside our affordability results to help brokers ensure they are choosing the right lender for their client’s requirements.

“We have also used our wealth of live data and insights to create MBT Analytics, which helps lenders to target affordability enhancements to very specific client cohorts, enabling them to develop their offering and ultimately help more customers.”