Bluestone Mortgages has launched an online residential affordability calculator for brokers to estimate how much their clients can borrow before completing a decision in principle.
Bluestone Mortgages head of sales & distribution Mark Hollands says: “We understand that having access to a robust affordability calculator is crucial when working with complex cases.
“We fully appreciate from broker feedback that this has been a long time coming, so we are delighted that we have been able to deliver a tool that will streamline the mortgage process, making it easier for brokers to serve their clients quickly and confidently.”
The move comes after house price growth slowed in October on both an annual and monthly basis, according to the latest Nationwide index.
Prices rose by 2.4% compared to last October, to reach an average of £265,738, but this was slower than September’s annual growth rate of 3.2%.
Month-on-month, prices rose by 0.1% compared to 0.6% in September.