20 February 2012
Nationwide subsidiary, The Mortgage Works’ (TMW), buy to let affordability calculator app is now available to iPhone and iPad users. The Android and BlackBerry versions were launched in October 2011 and have proved popular with over 500 downloads.
According to a recent TMW poll¹ 60% of advisers use an iPhone or an iPad.
The app, titled ‘Buy to Let Affordability Calculator’, is based on TMW’s ‘how much can be borrowed?’ calculator. It allows intermediaries to work out how much their client could borrow from TMW after entering the estimated purchase price/valuation and estimated rental income on a property.
The benefit to intermediaries is that even when they are on the move and don’t have access to a computer they can still provide their client with accurate and up-to-date affordability information, along with a list of suitable products for the client to choose from. This enables intermediaries to provide an even more efficient and effective service.
Ian Andrew, Managing Director of Intermediary Sales at Nationwide, said: “The app has already proved popular with intermediaries, but now that it is available on all major mobile devices we expect many more advisers to download this useful tool.
“Brokers can check the maximum amount TMW could lend their client even when they aren’t logged on to their computer. The app is really easy to use and is part of our ongoing commitment to making life easier for brokers.”
Notes to editors
¹ A survey of 123 intermediaries on TMW’s website between 8th February and 16th February showed that 39.84% use an iPhone, 20.33% use an iPad, 18.7% use a BlackBerry, 13.82% use and Android phone and 7.32% use another phone or no phone.
- Print screens of the Android version of the app are shown below and also attached to the news release e-mail.