The service, Burrow, was created in response to research which found many consumers felt navigating the mortgage application process was more challenging than raising a deposit.
Saffron said, while other mortgage calculators, give results based on the applicants’ incomes its tool goes into much more depth.
The evaluation process provides a thorough, accurate assessment of eligibility so that people can gain the information they need to make a decision about the most appropriate mortgage for their needs.
And they can take advantage of this information before the formal application process begins.
Laura Bright, Product Manager at Saffron, said: “We know that many first-time buyers find it difficult to understand the various mortgage options available to them, are unsure of how much they can borrow, whether they qualify and whether they are getting the best rate/product for their particular circumstances.
“By giving them access to more information before any initial appointments with a lender, Burrow not only saves first-time buyers valuable time, it also allows them to feel more clued-up about their current eligibility and mortgage options.”
You can access the new tool by clicking here.
