Mortgage Broker Tools has developed MBT Affordability, a residential mortgage affordability platform. It provides brokers with one easy to use affordability calculator to give accurate affordability for all mainstream lenders.

Since its launch in April 2019, Mortgage Broker Tools has grown the number of firms using MBT Affordability to more than 1,000 and has processed over 35,000 cases and completed 2.7 million lender calculations.

Mortgage Broker Tools says the success of MBT Affordability has been critical in helping to secure its next round of funding, which will enable the business to invest millions in developing more mortgage eligibility software.

Lewis Lenssen, managing director at Mortgage Broker Tools, said: “At Mortgage Broker Tools, our plans are to grow our customer base by focusing on strategic partnerships with forward thinking networks, clubs and real estate groups.

“We will be announcing some important integrations with leading providers of mortgage software in the coming months and, in addition to building the next generation of mortgage research software, we will also be focusing on enhancing the way that intermediaries handle early customer engagement, with a suite of advance mortgage eligibility tools.

“As well as developing tools for brokers, we will continue to work closely with our mortgage lending partners to provide them with insights into the mortgage market and an additional channel for them to engage with intermediaries.”