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.