The Mortgage Works (TMW) has launched a buy-to-let affordability calculator app for Android and BlackBerry smartphones. The app is based on Nationwide's buy-to-let and broker arm'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. Paul Howard, head of corporate accounts at TMW and Nationwide, says: “The new app is based on TMW’s most popular calculator which attracts 4,500 unique visitors per month, so I expect the app to be a popular and useful tool for intermediaries. It’s really easy to use and will help brokers do business with us wherever they may be.”
An iOS app for Apple devices is currently being developed.
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