Legal & General has added a new buy-to-let module to its SmartrFit platform, which combines lender criteria search functionality with an in-built affordability calculator.
The firm says the new feature helps brokers “find suitable lenders for their buy-to-let clients efficiently and accurately”.
Its SmartrFit platform is free for all advisers, whether part of the Legal & General Mortgage Club or not.
The system has launched with 17 lenders, covering around 92% of Legal & General’s buy-to-let lending. The firm plans to add further lenders shortly.
The high street banks involved include Barclays, Santander, NatWest, Virgin Money, TSB and Bank of Ireland.
A range of sector specialists and building societies are also involved in the system. They are:
BM Solutions
- The Mortgage Works
- Accord Mortgages
- Leeds Building Society
- Skipton Building Society
- Coventry Building Society
- Fleet Mortgages
- Platform
- Kent Reliance
- Precise Mortgages
- Bath Building Society
Legal & General Mortgage Club head of broker relationships and propositions Clare Beardmore says: “This is an important step in the journey for our free to use SmartrFit platform.
“With the launch of our buy-to-let module, we’re putting an entirely new function in the hands of advisers and helping them to deploy the same great tech but for more of their clients.
“Of course, buy to let cases can often times be even trickier to place that residential business, so this will be of particular use to both specialist and generalist broker firms.”
Beardmore adds: “This is just another example of how technology brings efficiencies to advice firms and puts time back in the hands of staff.
“We’re continuing to focus heavily on creating digital tools that help the broker community, not stand in its way.
“The development of these tools is heavily influenced by feedback from our users, so while we would certainly urge those that have not yet tried the system to explore just how it can help support business, we also hope those that do use it, continue to do so and let us know how we can continue to make it even better.”
