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Graham Awards


Unique mortgage affordability tool launched by digital broker

A digital mortgage broker has launched an online tool aggregating data from over 50 Buy to Let lenders to calculate what it calls “a landlord’s true affordability.” 

The tool also generates a personalised Buy to Let plan which includes live interest rates and details of monthly repayments.

Tembo’s tools also show users specialist options including top-slicing (where landlords use their own income in combination with rental income) to boost their borrowing power. 


It says it caters to all three main types of Buy to Let mortgages for both purchases and remortgage - Investment Buy to Let; Regulated/Family Buy to Let; and Let to Buy (accidental landlord). 

Users can specify their preferences - for example, whether they want a fixed or tracker rate deal, how long they want to fix for, the mortgage term up to 40 years and the repayment type.

Eddie Ross, co-founder and chief product officer at Tembo, says: “We’ve seen the market become increasingly restrictive for Buy to Let affordability in the past year, a change that’s forced many landlords to consider selling up. We know it's not easy to build a true understanding of one's affordability through a digital experience. 

“By combining the rental yield with all of an individual’s other income sources (pension, employment, benefits etc), we build a more nuanced and accurate picture, so they can make an educated decision.”

Tembo is a tech-focused mortgage broker, and says it helps buyers to bridge the growing mortgage affordability gap and discover their true buying budget. 

A statement from the firm says: “On average, our customers increase their budgets by £64,000. We do this through helping people to discover the family assisted mortgages and specialist schemes they are eligible for through our smart decisioning technology.”


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