Nottingham Building Society and Mortgage Broker Tools have partnered to provide brokers with enhanced mortgage solutions.
Nottingham Building Society (NBS) has announced a new partnership with Mortgage Broker Tools (MBT), a broker-centric mortgage research platform which is known for its solutions in affordability, criteria, and sourcing.
This collaboration will enable NBS to use the solutions offered by MBT’s market leading mortgage research. By integrating their technology into its operations, NBS aims to streamline their processes, enhance efficiency, and broaden the scope of choices available to brokers.
The hope is that NBS can use the technology of MBT to extend its reach beyond the conventional borrower profile, enhancing the capacity to connect with individuals who may have unique financial needs or fall outside the traditional lending parameters.
MBT is able to do that by providing brokers with one ‘easy-to-use’ platform comparing the eligibility of lenders in terms of affordability, criteria, products, and service levels for both Residential and Buy to Let mortgages. MBT has emerged as a player in the mortgage market, with over 5,500 monthly active brokers who process 60,000 mortgage cases monthly, totalling £12 billion.
Affordability has become an issue for brokers, with 94% saying it has become more complex over the past 12 months according to MBT’s, Affordability Study, 2023.
MBT addresses this challenge by delivering accurate affordability results across criteria, product rates, and credit status, saving brokers an average of 47 minutes per case.
Matt Kingston, National Sales Manager at Nottingham Building Society, comments:
“Our brokers and BDMs have eagerly anticipated The Nottingham’s presence on MBT, so we are proud to make that a reality. We have made some significant enhancements to our residential affordability in the past twelve months and early indicators from MBT data is very encouraging with a higher proportion of customers meeting our affordability than the industry average. It’s fantastic to partner with an innovative company like MBT and Tanya and the team have been brilliant to work with.”
Tanya Toumadj, CEO at Mortgage Broker Tools, commented:
“We are thrilled to welcome Nottingham Building Society to our panel of lenders. As the mortgage market continues to evolve, our partnership aims to provide brokers with even greater choice and options. Having The Nottingham on board is a real boost to our offering.”
