Legal & General adds six new lenders to its SmartrFit tool

2 April 2021 | General

Legal & General Mortgage Club has added six lenders to its SmartrFit tool, which allows advisers to determine suitable mortgage providers for their clients.

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

These additions aim to further bolster SmartrFit by broadening the range of results that advisers can access, meaning users can access options for all types of borrowers, from applicants with standard criteria through to complex borrowers, such as the self-employed.

The latest additional will support advisers who have clients who would benefit from a manual underwriting approach. Users also benefit from the tool’s criteria checks and built-in affordability calculator which eliminates unsuitable lenders from its search results.

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.

Clare Beardmore, head of mortgage transformation and operations at Legal & General Mortgage Club, said: “Our SmartrFit tool provides advisers with accurate results based on a wide range of lenders as well as significant time savings when completing searches for clients.

“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.”

Caroline Shard, business development manager at Vernon Building Society, added: “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.”

This post has originally been featured in Property Wire.