A brand-new WordPress integration that is run by an application programming interface (API) has been launched by Legal & General Mortgage Club, with the lender targeting it at companies that provide mortgage advice.
Those firms that opt into it will be able to access an affordability calculator for residential property transactions that is intuitive and easy to use. Legal & General has indicated that the tech behind it is the next step forward from that which its SmartrFit platform runs on.
It will offer both a built-in affordability calculator and a feature for finding mortgages with suitable criteria, letting mortgage advisors locate lenders that have deals to meet the needs of their customers much more rapidly. There is also a version of the tool that an advisor has the option of integrating into their current professional website, and this also includes an affordability calculator.
Legal & General is stating that it thinks its latest innovation will cut the amount of paperwork that advisors have to complete during these first stages of the mortgage process.
Speaking to Mortgage Introducer, Clare Beardmore from Legal & General Mortgage Club said that finding out their maximum loan level was the key first step for customers, before going on to say:
“However, this latest product is designed to help automate the process, while also generating leads for advice businesses.”
With CeMAP courses now often taken online, advisors are more comfortable with technology that can make their working lives more efficient, which this tool sounds like it will do.