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Written by rosalind renshaw

A software application already being used by 65 London estate agents is to be rolled out nationwide, following a deal with Openwork, the UK’s largest multiple-tied financial advisory network. 

Intellicalc is an app which integrates with estate agents’ websites to allow house hunters who input their income and deposit to see which of the properties that the agent has for sale they can afford. 

The deal will see Openwork promote Intellicalc to its 1,600 brokers across the UK.
 
Intellicalc claims to be radically different from other mortgage calculators because it uses live mortgage data so is able to precisely calculate the amount of money a buyer could potentially borrow using currently available interest rates, as well as ‘loan to value’ considerations.

The software displays all properties the estate agent is marketing which are within reach of the buyer.

In addition, Intellicalc also allows buyers to adjust the inputs to show the impact on monthly costs.

It also gives buyers a handy summary of all of the major costs and key data associated with the purchase such as deposit required, stamp duty, loan to value, interest rate and monthly mortgage payments.

Comments

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    Duncan Bannatyne - what are you out of exactly? the idea for the software is not to skip the underwriting process it is to give people more of an idea as to what their property purchase will cost in terms of monthly payments, stamp duty and rates of interest.

    It is NOT to bypass the underwriting process.

    • 05 March 2012 11:30 AM
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    no its not........Im out

    • 11 July 2011 15:49 PM
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    @ duncan banatyne on 2011-07-11 10:42:28

    The difference between an online calculator and what an underwriter says are leagues apart and for those reasons.....I’m out.

    Sir, you are clearly a doom and gloom monger merchant - the thing is with such an attitude you will be drummed out of the high st - get it into your head that this is the way its going.

    • 11 July 2011 13:28 PM
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    The difference between an online calculator and what an underwriter says are leagues apart and for those reasons.....I’m out.

    • 11 July 2011 10:42 AM
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