Affordability Hub: the benefits and how it works

Due to pilot in Q4 2019, we are pleased to welcome a new member of the Mortgage Brain proposition family – Affordability Hub. Dubbed the ‘Skyscanner’ for mortgage affordability, this revolutionary mortgage solution system collects information on property, income, debts and expenditure in a standard form and sends it all to lenders affordability calculators and then delivers the information back to Affordability Hub. However, the benefits of using Affordability Hub don’t stop there.

A complimentary addition

Customers of Mortgage Brain’s sourcing systems MortgageBrain Classic or MortgageBrain Anywhere and Criteria Hub, will be able to enjoy our new addition at no extra cost.

How it works

The simple purpose of Affordability Hub is to support the mortgage adviser at the outset so that their customers have full knowledge of their options. Our new system will provide the maximum lending amounts either for a specific property or based on a customer’s circumstances with the results being returned within a minute. The collated results are provided that show the amount each Lender is prepared to lend rather than whether they will simply lend the amount requested. This gives you and your clients, total transparency and helps the customer understand the range of mortgage options available to them.  If we want to get into the all-important details, it uses a comprehensive standard question set which, in turn, is used to populate a Lender’s affordability calculators.

Total transparency

Affordability Hub provides total transparency of all the requirements which has been ignored by the Lenders’ affordability calculator and any assumptions that the platform has made. Our new system goes further by giving clear indications of what expenditures and incomes were accepted and ignored for each Lender.

Comprehensive records

The benefits of using Affordability Hub continues transforming the mortgage process with the ability to re-run an existing application with complete version tracking in addition to comprehensive compliance records to support any advice given. It’s sourcing heaven at its best.

Make sure you keep a close eye on our Affordability Hub webpage for all updates relating to its full integration with Criteria Hub and MortgageBrain Classic and MortgageBrain Anywhere due in 2020. This is the ideal product for enhancing the entire mortgage process by delivering better and more comprehensive information.

When used in tandem with our full mortgage sourcing product portfolio, Affordability Hub will be, like we always say, a no brainer! An adviser with affordability, criteria and product-based sourcing in their arsenal will be able to provide their clients with the best advice and most transparent service on the market.