Leek United Building Society launches new residential affordability calculator
Leek United has launched a new residential affordability calculator to help brokers work out if their clients’ lending amount is affordable when applying for a Leek United mortgage.
The calculator, which will be used by underwriters as well as brokers to ensure the consistency of decisions, can accommodate many different income streams including; employed, self-employed, pension and investment income.
It delivers a host of benefits for both brokers and their clients, including:
- Consistent decisions – the calculator gives brokers a unique code each time they use it. This code can be accessed by Leek United underwriters and Business Development Managers (BDMs), which means brokers can discuss their calculations easily with any member of the Leek United Intermediary team.
- Faster results – the new affordability calculator has been streamlined, making it quicker to complete using the information contained within the brokers own fact find.
- Common sense lending approach - Leek United recognises that everyone is different and therefore in some circumstances, we will provide an opportunity for clients to provide their actual spending figures.
You can access their new affordability calculator here.