Twenty7Tec and Mortgage Broker Tools agree sourcing and affordability partnership
Twenty7Tec, a leading provider of technology to the UK mortgage market, has integrated MBT Affordability from Mortgage Broker Tools into its CloudTwenty7 platform. This integration will enable users of CloudTwenty7 to seamlessly perform affordability research alongside product sourcing, offering advisers the very latest technology to support their product recommendation.
In addition, Twenty7Tec will acquire a minority stake in Mortgage Broker Tools, ensuring a long-term partnership between the two businesses.
The first phase of the integration between CloudTwenty7 and MBT Affordability has been completed, with further developments to follow. Both applications will still be available standalone, but users of CloudTwenty7 who access the integrated version of MBT Affordability will benefit from preferential pricing and a unique, unparalleled user experience.
MBT Affordability gives brokers a single, well designed, calculator that automatically and intelligently completes individual lender calculators and collates the results. There are no approximations or estimates as the approach ensures accurate affordability results every time.
The CloudTwenty7 platform offers a range of applications and functions that are designed to make the process of searching, applying for and obtaining a mortgage simpler, faster and more efficient.
Lewis Lenssen, Managing Director at Mortgage Broker Tools, said:
“This is a coming together of two best of breed platforms to deliver brokers an unrivalled integrated research solution. CloudTwenty7 is now used by more than 12,000 mortgage advisers to search and apply for mortgages, while MBT Affordability is leading the way in disrupting how brokers research the most suitable affordability options for their clients. Integrating the two is going to provide brokers with a very powerful tool, and I am looking forward to working with James and his team to roll out our integration.”
James Tucker, CEO at Twenty7Tec, said:
“There’s no point getting three quarters through the application process to find that a product is unsuitable for affordability reasons. That’s inefficient for brokers who are already gearing up for a particularly busy year. With this integration, brokers can give customers better tailored options every time. Using a combination of cutting-edge affordability technology and our CloudTwenty7 platform ensures that advisers experience a seamless and detailed research experience, delivered in real time. Every time we iron out a crease like this, we make the market more efficient and we see an uplift in the volume of completed deals for our clients. It’s win:win:win for brokers, lenders and customers.”
More information is available at www.mortgagebrokertools.co.uk
Notes to Editors
Mortgage Broker Tools (MBT) is launching MBT Affordability, a residential mortgage affordability platform that provides brokers with one easy to use affordability calculator to give accurate affordability for all mainstream lenders.
With MBT Affordability, brokers have access to a single, well designed, calculator that automatically and intelligently completes the individual lender calculators and collates the results. There are no approximations or estimates as the approach ensures 100% accurate affordability results every time.
MBT Affordability saves time on every case but is particularly valuable for complex cases with:
- Joint applicants.
- PAYE income, Company Directors, IT Contractors and Self Employed.
- Loan and Credit commitments.
- Properties in the background.
MBT Affordability keeps a record of all cases and affordability results, providing an automatic compliance audit trail that demonstrates the best affordability research. Case details can be amended at any time and affordability can be re-queried. Whether case details have changed, or brokers want to research the impact of clearing a debt, MBT Affordability makes it simple and fast.