SimplyBiz to offer L&G affordability tool to members

Jake Carter

November 25, 2021

affordability calculator

SimplyBiz Mortgages has partnered with Legal & General to offer its mortgage affordability research tool to its 4,000-plus members.

The affordability tool, which will be available to SimplyBiz members from 25 November 2021, uses clients’ financial information, including earnings and outgoings, to indicate borrowing potential, whilst removing results from providers that would not consider the individual based on their criteria.

Richard Merrett, head of strategic development at SimplyBiz Mortgages, said: “We know that the real value of an intermediary’s relationship with their client lies in the time they spend getting to know them, and we’re delighted to be able to offer our members a way to introduce numerous efficiencies, and therefore save admin time, throughout their advice process.

“SimplyBiz Mortgages is passionate about supporting its members in accessing, and utilising, emerging technology to help them save money and time and enable them to get to know the needs and circumstances of their clients better, resulting in the best possible outcomes.

“We’re pleased to announce that our membership will now be able to use L&G’s market-leading tool free of charge, and look forward to announcing further innovations and benefits of membership in the coming months, with a particular focus on the digitisation of the mortgage process.”

Ali Crossley, managing director of distribution at Legal & General Insurance, added: “We want to support advisers to grow their business, making processes more efficient so they can focus their time on achieving great customer outcomes.

“Technology is increasingly underpinning the mortgage journey, playing a significant role in helping advisers to save time while enabling them to provide a more agile, bespoke end-to-end solution for their customer’s needs.

“Cross-industry collaboration is therefore key to helping drive intermediary adoption of the digital solutions available and this integration with SimplyBiz Mortgages will further enhance our offering, as we continue towards providing the adviser community with a more seamless, fully digital mortgage journey.”

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