BrokerSense launches rental mortgage calculator


BrokerSense, the provider of specialist mortgage calculators for brokers, has launched a rental mortgage calculator.

The calculator will provide the maximum loan amounts, in seconds, from over 75 rental lenders. It also includes a specialized portfolio calculator to help brokers calculate loan amounts for clients with more than four rental properties.

Stuart Phillips, Director of BrokerSense, said: “After many years as a broker, I understand the frustrations of trying to figure out exactly what a client can borrow. It becomes much more difficult when it comes to buying to let, especially if a client has a portfolio of properties.

Tackling the Affordability Conundrum

“BrokerSense was designed to address this problem and eliminate one of the headaches that brokers face every day.

“I know some brokers are reluctant to give advice on mortgages for rent due to the complexity of establishing affordability, so hopefully BrokerSense will provide these brokers with market access and flow as well. new customers with that.

“Our goal has been to eliminate duplication and unnecessary red tape by bringing the kind of technology used by robo-advisory platforms and digital advisors to the traditional mortgage broker market, helping brokers combat the problem. boom in robo-advisor. “

It can be used for a rental property or for clients with an extensive portfolio. Brokers with clients with a portfolio of properties can import their clients’ portfolio spreadsheets including monthly mortgage payment, loan amount, property value, and rental income.

The buy-to-lease calculator will populate the portfolio on the BrokerSense system. This will then display a panel for each property with a rent slider to show how many lenders will be lending on that property and how each property fits into the portfolio.

It shows how it will affect the rest of the portfolio if the client were to increase the loan on a particular property, and therefore what someone can borrow on each property.

The calculator also shows how different rent increases affect the amount that can be borrowed for each property.

If the first line of the address is included, BrokerSense will also perform a land registry search using APIs to extract this information in seconds.

BrokerSense calculator results will be presented as a visual preview that brokers can print out or upload to their client CRM system with just one click.

BrokerSense had a smooth launch in January of this year with its Consumer Affordability Calculator. He said the feedback from brokers was positive.

Stefan Cork from MAB added, “BrokerSense is a great tool to provide me with a quick and accurate overview of the affordability calculators of many lenders. As a busy advisor, this makes my life easier and saves me valuable time that I can use to provide my clients with the best possible service. I love it.”

BrokerSense costs £ 10 per month for hire purchase or the traditional mortgage calculator, or £ 15 per month for both. This allows unlimited calculations.

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