"As the mortgage market continues to evolve, our partnership aims to provide brokers with even greater choice and options."
- Tanya Toumadj, CEO at Mortgage Broker Tools
Nottingham Building Society has partnered with Mortgage Broker Tools (MBT) platform which offers brokers solutions in affordability, criteria, and sourcing.
The Nottingham aims to utilise the platform to streamline processes, enhance efficiency, and broaden the scope of choices available to brokers.
MBT's capabilities will enable The Nottingham to extend its reach beyond the conventional borrower profile, enhancing its capacity to connect with borrowers who may have unique financial needs or fall outside the traditional lending parameters.
MBT compares the eligibility of lenders in terms of affordability, criteria, products, and service levels for both residential and buy-to-let mortgages.
Affordability has become a critical issue for brokers, with 94% saying it has become more complex over the past 12 months, according to an MBT study in 2023. MBT addresses this challenge by delivering accurate affordability results across criteria, product rates, and credit status, saving brokers an average of 47 minutes per case.
Matt Kingston, national sales manager at The Nottingham, commented: “Our brokers and BDMs have eagerly anticipated The Nottingham’s presence on MBT, so we are proud to make that a reality. We have made some significant enhancements to our residential affordability in the past twelve months and early indicators from MBT data is very encouraging with a higher proportion of customers meeting our affordability than the industry average. It’s fantastic to partner with an innovative company like MBT and Tanya and the team have been brilliant to work with.”
Tanya Toumadj, CEO at Mortgage Broker Tools, added: “We are thrilled to welcome Nottingham Building Society to our panel of lenders. As the mortgage market continues to evolve, our partnership aims to provide brokers with even greater choice and options. Having The Nottingham on board is a real boost to our offering."
