Tandem Bank has announced the launch of a new affordability calculator.

Brokers can now use the calculator to check the maximum loan available in a few steps.

The bank said that the move would support "better and faster" lending decisions across residential mortgages.

Tandem launched the new calculator after receiving direct direct feedback from engagement with intermediaries.

It said that while it is primarily a digital bank, it is keen to engage directly with brokers through its key relationship managers.

Tandem, which describes itself as the UK's leading greener digital bank, says it is focussed on helping households reduce their carbon footprint and supporting the UK’s transition to a carbon neutral economy.

“We’re delighted to launch the affordability calculator, which will be again help our brokers with better and faster decisions," said Mark Shelper, national account manager, Tandem. "Created following their feedback, the initial results are overwhelmingly positive – I’m delighted we can listen to them and act quickly to ensure Tandem remains a leader in the market and our proposition continues to develop.”

Last year, Tandem raised £20 million in Tier 2 capital.

At the time, it said that the funding, which comes from growth investor Quilam Capital, will be used to reinforce the growth trajectory of the bank.

---