Mortgage Broker Tools has added specialist lender MFS to its affordability research platform.
The digital mortgage firm says it will now carry buy-to-let calculations from MFS, which also offers bridging loans to brokers as well as private and institutional investors.
The lender launched its BTL offering in January, focusing on complex cases with specialist requirements. It lends on a range of properties, including unlimited size houses in multiple occupation, and multi-unit freehold blocks up to 30 units, as well as holiday and student lets. It also lends to foreign nationals, including those with no UK footprint.
MBT’s affordability platform currently provides brokers with calculations on how much their clients can borrow from a panel of more than 40 residential and almost 70 BTL lenders, based on affordability and other criteria options.
Mortgage Broker Tools chief executive Tanya Toumadj says: “A growing number of property investors are looking to more complex investments, like HMOs, MUFBs and holiday lets.
“Understanding the options for mortgages on these properties can be complicated as lenders each have their own way of assessing income and calculating affordability. So, technology is crucial in helping brokers to navigate the market and understand the best options for their clients.”
MFS chief mortgage officer Mike Cook adds: “One of our strengths is flexible interest coverage ratio and large loan sizes to make cases fit, and this matches Mortgage Brokers Tools’ unique strength of using a whole batch of lenders’ affordability calculators in real-time, to compare what lenders can offer.
“Mortgage Broker Tools integrates this with product sourcing and criteria so specialist brokers can save time and energy using one system to get the best deals.”