Axess Financial Services unveils a new tool designed to enhance the buy-to-let advisory process.
- The calculator provides access to loan details from over 50 lenders, aiming to streamline brokers’ operations.
- Users can view rates, fees, and monthly payments simultaneously, simplifying client consultations.
- It includes features like Interest Coverage Ratio and stress rates for tailored loan evaluations.
- A reverse rent calculation function aids in determining required rental incomes for loans.
Axess Financial Services has launched a groundbreaking buy-to-let mortgage calculator to optimise the advisory process for brokers. This innovative tool is designed to support mortgage brokers by providing them with an efficient means to access essential loan details from over 50 different lenders.
One of the calculator’s key features is its ability to present maximum loan amounts along with corresponding rates, fees, and projected monthly payments, all within a single user-friendly interface. This feature supports brokers in efficiently addressing client enquiries by providing all necessary information simultaneously.
In addition, the calculator offers specialised functionalities such as displaying the Interest Coverage Ratio (ICR) and stress rates, which are crucial for determining the viability of loan options for specific scenarios. These elements are particularly valuable for both specialised buy-to-let brokers and general mortgage advisors, enabling them to offer more informed advice.
The tool further provides a reverse rent calculation function. This feature allows brokers to evaluate the rental income required to support a particular loan, streamlining the decision-making process and enhancing the accuracy of their recommendations.
Leel De Silva, development manager at Axess, highlighted the tool’s potential impact, stating that it represents a ‘game-changer’ for face-to-face client interactions by eliminating typical delays and frustrations. This advancement empowers brokers to focus more effectively on offering advice and successfully completing mortgage transactions.
Axess Financial’s new calculator promises to significantly improve the efficiency and quality of buy-to-let mortgage advice provided by brokers.
