Since the start of the year, Mortgage Broker Tools (MBT) has completed a total of three million lender affordability searches, each saving an average of two minutes compared to carrying out individual calculations on the lender websites.
These searches by MBT Affordability have reportedly saved brokers almost 100,000 hours in 2021.
Tanya Toumadj, chief executive at Mortgage Broker Tools, said: “100,000 hours is such a large number, it’s almost difficult to comprehend.
“But it demonstrates just how many different lender options there are when it comes to finding the right affordability match for a client, and how long it would take brokers if they were to carry out this level of thorough research without the assistance of technology.
“Brokers are experiencing record levels of enquiries at the moment and under pressure to meet tight deadlines, so any time saved can be well-invested elsewhere.
“Fortunately, platforms like MBT Affordability are available to take the strain – crunching the numbers, cross-checking criteria and delivering results from many dozens of lenders within seconds.
“When it’s possible to save so much time and deliver better customer outcomes, it’s hard to think why brokers would research affordability in any other way.”