Advise Wise launches new cost of borrowing calculator

Later life lending sourcing platform, Advise Wise, has added a new cost of borrowing calculator to its suite of resources. Created in response to adviser feedback, the new calculator offers a fully customisable tool to demonstrate to customers the cost of borrowing of one or more products.

Under the latest developments, advisers can compare up to four different borrowing scenarios side-by-side, helping to illustrate options clearly for clients, while comprehensive forecasting incorporates HPI, property value, initial borrowing, interest rates, fees, and payment options for accurate projections.

The calculator also offers a flexible term display, providing an adjustable term to balance clarity and realism and avoiding misleading long-term projections, and a payment strategy simulation that allows advisers to model optional, mandatory, interest-serviced, and interest-only payments. 

Additionally, future drawdown forecasting enables advisers to simulate delayed borrowing to minimize interest roll-up, while the ability to stress test interest rates means that advisers can input variable rates for future lending to illustrate risk and resilience in different market conditions.

The calculator offers both visual and printable outputs, giving advisers the ability to produce clear graphs and tables for client presentations, with options to print or save as PDF for compliance and record-keeping. 

Advise Wise’s senior strategic partnership manager, Daniel Edmondon, said: “Finding the right solution for consumers begins with having meaningful conversation. We’re pleased to be offering advisers with new tools to be able to demonstrate the available options to their clients, to help them make informed decisions on how to achieve their financial goals in a way that works best for them.

"The latest offering underlines Advise Wise’s commitment to supporting advisers in the later life lending space, and we look forward to using it as a foundation on which to continue building on throughout 2026, ensuring they receive the tools and support to continue delivering best outcomes for consumers in later life.”