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More than eight out of 10 brokers use the affordability calculators of up to six lenders when sourcing a single case, according to Mortgage Brain.
Attendees of Mortgage Brain’s Virtual Mortgage Vision Masterclasses in March were polled on their habits when sourcing deals for clients.
The survey found that 84.5% visited the affordability calculators of between one and six lenders on each case, while 58% rarely used an affordability calculator from a non-top 10 lender.
The study identified other occasions when brokers spend large amounts of time on manual tasks, with 81.5% spending more than 15 minutes keying in the details for a decision in principle (DIP) or full mortgage application.