Knowledge Bank has announced the launch of its Residential Affordability Calculator, the first product from the business that moves beyond criteria into affordability assessment.
The new feature, available as an add on for subscribed users, is named – AffCalc and is launching on a limited distribution basis, with full launch to follow in October.
Launching with residential affordability, AffCalc enables brokers to edit client data as they go and see lenders fall away in real time, offering visibility and control during the advice process.
Rather than relying on static outputs, brokers can now adjust inputs and watch the impact instantly, making complex affordability checks faster, clearer, and more accurate.
Commenting on the launch, Knowledge Bank chief executive and founder Nicola Firth said:
“Aff Calc delivers highly personalised and accurate results in seconds. It moves away from the ‘numbers-in-numbers-out’ models and for the very first time provides brokers with an intelligent calculator which will only return results where the lender will lend taking into consideration criteria that affects affordability as well as the figures.”
She adds: “This stops brokers from spending time on cases where the affordability fits but where it later falls down on criteria. Lenders can also have confidence in the cases they receive from brokers using Aff calc as it’s using criteria data input directly by them to drive reliable an accurate result.”
