Advisers are benefiting from SmartrFit’s intuitive checks in 29% of searches, which would otherwise show potentially unsuitable lenders for their clients.
The SmartrFit tool gathers results from lenders across the residential mortgage market.
Its searches mean that advisers can quickly and efficiently match their client’s mortgage requirements with the most appropriate lenders from the insurer’s mortgage panel, saving the adviser time by reducing the need for them to repeat their search due to a rejected application.
The latest data from Legal & General shows that SmartrFit has delivered accuracy for advisers across 1,066,504 lender outcomes.
It also benefits mortgage lenders by avoiding the operational pressures caused when having to process unsuitable applications.
Clare Beardmore, head of mortgage transformation and operations at Legal & General, said: “With many advisers currently processing applications containing complex financial situations due to the pandemic, combined with the demand from the stamp duty holiday, there’s never been a more beneficial time to have an intelligent lender sourcing tool at their disposal.
“By combining search and affordability functionality, advisers benefit from a free, easy to use platform which saves time and helps them place cases much more efficiently and with greater accuracy.”