New advisor tool launched by Cumberland BS

October 6, 2024 by Brendan O'Neill

Mortgage Advisors

A brand new mortgage affordability calculator has now been launched by the Cumberland Building Society, claiming it will make the application process easier for advisors.

At the moment, this new calculator will only be accessible by mortgage advisors who are based within the distribution area for Cumberland BS. However, it could see a more widespread launch in the future, if it proves to be a success. The lender is stating it sees the introduction of the solution as being central to its ongoing digital shift. Its overall goal relates to integrating online solutions into the manual processes that it has always favoured in the past.

Mortgage advisors will be able to use the calculator to work out whether or not a particular product is affordable for their customers, with no need to contact Cumberland BS. This is one of the ways in which it should make completing applications quicker and more efficient.

Cumberland BS sought input from advisors when designing its new calculator. It is reporting that the early response has been favourable. Advisors have praised how easy it is to use and the range of functions that it offers. Among them is a five-year mortgage option, which is intended to make products affordable for more people.

Grant Seaton from Cumberland BS stated this is just the start of the moves that the lender is making to improve its processes.

Advisors who have CeMAP training are very busy and so appreciate time-saving tools, especially if they can also make mortgages more widely affordable.