CCR Magazine

You are here  :Home arrow News arrow Knowledge Bank launches affordability calculators as lender numbers rise 25% in three weeks
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines

Headlines

 
Commercial Credit News

Headlines

 
Knowledge Bank launches affordability calculators as lender numbers rise 25% in three weeks PDF Print E-mail
Thursday, 28 September 2017
Knowledge Bank, the UK’s first mortgage criteria search system, has now included affordability calculators for every lender on the system. 

This development will help to save brokers even more time as it means they can see which lenders cater for their clients’ circumstances and work out affordability, all in one place.

Just three weeks after its official launch, the number of lenders on Knowledge Bank has increased by 25% and now includes every major lender and many specialist lenders. At the beginning of September, at the time of its official launch, 43 lenders had signed up to Knowledge Bank and included all of their data. This is already up to 54 lenders with another forty behind the scenes who have registered but are yet to upload their criteria. More lenders are now approaching Knowledge Bank every week requesting their criteria also be included.

There are now over 22,000 different criteria held in Knowledge Bank, in 480 different categories across the following mortgage types:

· Residential mortgages
· Buy-to-let
· Second charges
· Equity release
· Self build
· Overseas mortgages

The number of criteria has also increased by more than four thousand in just three weeks and is increasing further every day as more lenders load their criteria onto the system.

This means mortgage brokers can search even more lenders’ criteria. This can be done in seconds at the touch of a button and is already saving mortgage advisers hours of valuable time. They can also select multiple criteria at a time, with results clearly displaying which lenders will lend against one or more of the categories searched for. This often revealing solutions that many mortgage brokers did not previously feel were possible.

All search results can be saved as a PDF or printed out as ‘evidence of research’ alongside product sourcing results, supporting a broker’s recommendation to their client. They will be automatically time and date stamped with the broker’s name, proving especially valuable as evidence of why the broker hasn’t recommended the cheapest mortgage of that type.

Nicola Firth, CEO of Knowledge Bank and its parent company Compass Systems, says, “Knowledge Bank has been designed to put brokers first and make their working day easier. Uploading all of the different affordability calculators so they are all in one place is just one more step to give brokers back time and space in their diary to see more clients.

“It is incredible to see how popular Knowledge Bank already is with both brokers and lenders. To have increased the number of lenders on the system by twenty five per cent in just three weeks is beyond what we ever imagined.”
 

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

subscriptions

CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


 

Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road
Southend-on-Sea
Essex
SS1 1EP

Registered in England No: 05483197