Six lenders join SmartrFit panel to extend reach to 'complex' borrowers

Img

Aldermore Bank, Bank of Ireland, Leeds Building Society, Pepper Money, Vernon Building Society and the Post Office will now be available to brokers completing searches through the tool.

The SmartrFit tool enables advisers to quickly determine suitable mortgage providers for their clients. Legal & General said the latest additions would further bolster the service by broadening the range of results,.

It will be especially helpful for advisers looking for options for more complex borrowers, such as the self-employed.

Indeed, it is expected to open up avenues for advisers who have clients who would benefit from a manual underwriting approach.

Caroline Shard, business development manager, Vernon Building Society, said: “The Vernon is really excited to join SmartrFit and to be a part of this innovative system.

“We believe it will change the way brokers source lenders. With a quick and precise approach for the broker and ultimately providing an excellent client journey.

“While also enabling more niche lenders to stand out with products and criteria working in conjunction in one place. We look forward to working with Legal & General and its broker network at this exciting time.”

Legal & General’s SmartrFit tool is free-to-use and can be accessed whether an adviser is a member of the Mortgage Club or not, although users will need an agency number to login.

“This reflects Legal & General’s commitment to developing technology aimed at helping to make it easier for advisers to conduct business.”

Clare Beardmore, head of mortgage transformation and operations, Legal & General Mortgage Club, said: “These additional providers will ensure there’s even more choice for our users, especially beyond high street lenders.

“By involving specialist and more bespoke mortgage lenders, such as Aldermore and Vernon Building Society, we are enabling access to a broad range of providers which may prove particularly useful when sourcing for applicants with complex borrowing needs.

“Over the coming weeks we plan to make yet more updates to the tool, further improving our technology to help make advisers lives easier while identifying the most suitable product for their client’s needs.”