"This is a great example of using technology to support brokers, especially for smaller firms looking to provide services normally available only to larger outfits."
The ‘broker in a box’ proposition builds on the same technology used by the Club to power its SmartrFit platform, which combines criteria sourcing with an inbuilt affordability calculator to help advisers quickly understand which lenders would be suitable for their clients.
This white-labelled version, however, can be easily integrated into a broker’s existing website, allowing them to offer a similar affordability calculator service, but without the need for bespoke coding.
The ‘plug and play’ approach is designed to help alleviate the administrative burden placed on advisers when completing an initial customer fact find. This is expected to help save brokers time, but also support the creation of qualified leads.
The system not only helps potential clients to quickly understand what a mortgage lender may allow them to borrow, but also gathers fundamental financial information which the broker can then use to complete a real application more quickly. The tool also allows customer to request contact from a mortgage broker, should they wish to access advice.
The tool is expected to help SME advice firms, especially, by helping to remove some of the key barriers to tech adoption while helping to keep costs down.
Clare Beardmore, head of broker propositions at L&G Mortgage Club, said: “Knowing broadly how much they can borrow from a mortgage lender is one of the very first steps for anyone looking to buy a home and it’s a question that advisers hear all too often. However, this latest product is designed to help automate the process, while also generating leads for advice businesses.
“This is a great example of using technology to support brokers, especially for smaller firms looking to provide services normally available only to larger outfits. We have seen success with these types of partnership already, having launched a similar function with My Simple Mortgage and we anticipate this will go a step further by opening the door to a real variety of other firms.”
