Money Dashboard launched a new tool for the mortgage market called “AffordAbility” at the Council of Mortgage Lender’s inaugural conference on “Digital Innovation in the Mortgage Market”.
Leveraging Money Dashboard’s market leading technology, AffordAbility brings efficiency and innovation to the current mortgage lending process, benefiting both consumer and broker.
For the consumer, the tool provides transparency and understanding. An automated analysis of their income and expenditure, for the first time enables the consumer to examine what they can afford and why.
For the broker, an instantaneous and intelligent report on the financial position of a prospective borrower results in quicker and smarter recommendations for suitable mortgage products, as well as providing an automated audit trail for regulatory purposes that the affordability assessment had been properly performed.