Nottingham Building Society has today announced a new partnership with Mortgage Broker Tools (MBT), a leading broker-centric mortgage research platform renowned for its innovative solutions in affordability, criteria, and sourcing.
This collaboration will enable The Nottingham to harness the solutions offered by MBT’s market leading mortgage research. By integrating their cutting-edge technology into its operations, The Nottingham aims to streamline processes, enhance efficiency, and broaden the scope of choices available to brokers. MBT’s unique capabilities will empower The Nottingham to extend its reach beyond the conventional borrower profile, enhancing the society’s capacity to connect with individuals who may have unique financial needs or fall outside the traditional lending parameters.
MBT provides 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 key 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 a critical issue for brokers, with 94% saying it has become more complex over the past 12 months (Source: Mortgage Broker Tools, 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 The Nottingham, 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, comments: “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.”
