MBT reveals top five residential lenders for affordability
Mortgage Broker Tools (MBT) has revealed the top five residential lenders for affordability.
Overall the top lender for affordability on residential cases was Aldermore, followed by Ipswich Building Society, and West Bromwich Building Society.
In fourth place was Teachers Building Society and Accord Mortgages was fifth.
For remortgages, MBT pointed towards 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.
MBT believes that residential mortgage applicants with a buy-to-let portfolio are particularly well served by HSBC.
The results are based on two million searches processed through the MBT Affordability platform in the last two months.
Tanya Toumadj, chief executive 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.”