Online mortgage broker Dwell has launched a new Universal Mortgage Calculator, which it claims will help people find out which lender will lend them the most money.
This new tool provides real-time estimates on what a customer could borrow from the top 10 lenders. This process takes less than two minutes to complete.
Dwell CEO Pradeep Raman said: “What often isn’t explained and certainly isn’t clear to many mortgage applicants is that each lender has a different attitude to risk and will lend people very different amounts. This is a huge issue as it can lead to people missing out on the properties they hope for.”
“Applying for a mortgage is an exceptionally daunting task, but isn’t helped by the fact that people are presented with lots of numbers that ultimately don’t show what lenders will actually be willing lend. Borrowers want to see if they’re eligible as well as it being affordable.
“The mortgage world has been transformed in recent years and we’re looking forward to launching some new features over the coming months to make this process even quicker and simpler.”