Twenty7Tec has integrated MBT Affordability from Mortgage Broker Tools into its CloudTwenty7 platform.
This integration will enable users of CloudTwenty7 to perform affordability research alongside product sourcing.
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 receive preferential pricing.
MBT Affordability gives brokers a single calculator that completes individual lender calculators and collates the results. There are no approximations or estimates.
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, added: “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.”