MBT Affordability integrates with Generation Home
13 July 2022
Mortgage Broker Tools (MBT) has integrated its MBT Affordability research platform with Generation Home; the new affordability focused lender that helps buyers enhance their borrowing using friends and family funds as “boosters”.
Income boosters enable family members to be added to the mortgage and their income to be included in the affordability calculation, up to a maximum of six applicants. While deposit boosters enable buyers to receive help towards their deposit in the form of an interest-free loan, either as a gift or equity.
According to the latest MBT Affordability Index, 25% of first-time buyers and home movers are offered a loan size smaller than they requested and some of these customers could overcome the shortfall with a mortgage from Generation Home, who increased the average borrowing power of their first-time buyers by an extra £65K, in the last 6 months.
This exclusive integration provides brokers with a simple way of seeing whether a mortgage from Generation Home could help their clients to borrow the loan size they need, alongside more traditional options.
Tanya Toumadj, CEO at Mortgage Broker Tools, said:
“Not only is MBT Affordability the most comprehensive affordability tool available in the market, it’s also the most sophisticated. With the inclusion of lenders like Generation Home, we make it easy for brokers to research different types of solutions that could benefit their clients, at the click of a button.”
“This enables brokers to add more value to their relationships and will help more buyers to buy the home they want. We’re really pleased to work with Generation Home on this integration and we are sure it will prove a popular addition to the MBT Affordability platform.”
Pete Dockar, Commercial Director at Generation Home said:
“Mortgage affordability is often the key issue for buyers to get the home they want. Generation Home are proud to be providing new solutions to an issue that often leaves buyers disappointed and disillusioned when their budget fails to live up to their ambition. We know we do things differently and many brokers may not yet know the impact we can make to their case. A technology platform like Mortgage Broker Tools overcomes this, enabling brokers to quickly and easily see all of the affordability options for their clients; increasing comparison, discovery and confidence in newer products. We consider this a key partnership to help inform and empower the broker community and drive the best solution for their clients."
