Property Master launches a mortgage calculator with A.I.

Buy-to-let broker Property Master has launched a mortgage calculator that uses artificial intelligence to potentially show homeowners how they can save money on a new mortgage deal.

Property Master’s calculator analyses what’s available based on property value, rental income, and the mortgage’s purpose.

“This calculator is unique.”

Angus Stewart, CEO of Property Master, said: “This new calculator is really a game-changer for homeowners looking for a mortgage.”

“Essentially, its use of artificial intelligence allows homeowners to play with the system and navigate the ever-complex borrowing and affordability criteria found in the buy-to-rent mortgage market.”

“Unlike other website calculators that only use a simple formula, the Property Master calculator actually performs a comprehensive search for products on the market and uses actual affordability rules from each lender.”

The calculator asks the user if they want to borrow a specific amount (expressed in British pounds or as LTV %) or if they want to find the maximum amount they can borrow.

Compare this data with all the products of each lender in the buy-to-rent mortgage market.

It will then show the best offer but will also indicate how an even better offer can be found by making a small reduction to the amount the owner wants to borrow.

For example, by borrowing a few thousand fewer, the homeowner may discover that it unlocks access to a mortgage that will save hundreds of pounds a month and thousands of pounds over the mortgage life.

The Property Master calculator displays your search results in two tables: one shows the best two-year initial fixed-rate results. The other displays the best five-year initial fixed-rate results.

For each table, the calculator shows the amount that can be borrowed according to whether the mortgage is for a corporation or as a natural person. If it is a natural person, it is broken down according to their income tax bands.

When a better deal is possible, the Optimize button flashes green. It shows the landlord how a better agreement can be accessed by making a small reduction in the amount borrowed.

The Property Master calculator works on both a mobile device and a PC.

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