Knowledge Bank responds to broker challenge for SVR list

Knowledge Bank has responded in under 24 hours to broker demand for an easy way to see lenders’ current SVRs. Knowledge Bank responded instantly, creating a complete point of reference of all residential and buy-to-let lender LTVs, held all in one place.

At 2pm yesterday, broker Phil Leivesley of Leivesley Mortgage Services Limited, tweeted to criteria search systems Knowledge Bank and Criteria Hub with a request for them to create a category for lender SVRs so that there was an easy-to-use-point of reference for brokers, to keep up to date with all of the changes that the industry has seen recently.

Phil is an experienced broker but is struggling to keep up to date with what lenders’ SVRs are in the current climate as they are changing so frequently.

Knowledge Bank, who earlier this week announced a collaboration with Iress, rose to the challenge and took it to the next level. By 9.00am this morning, the Knowledge Bank team had created a new fully-searchable feature on their system, to house SVRs from every lender, for both residential and buy-to-let mortgages.

Knowledge Bank has created a whole new feature for LTVs on its criteria search system, so that brokers have an always up-to-date point of reference.

This is the second time in a month that Knowledge Bank has sprung into action to help brokers, creating a solution in under 24 hours. It did the same when the government announced that all mortgage borrowers would be able to request a three month payment holiday, on that occasion, working through the night to develop their Covid-19 Live Criteria Feed and providing it to brokers completely free.

Nicola Firth, Founder & CEO of Knowledge Bank said: “We saw Phil’s request and the whole Knowledge Bank team agreed to rise to the challenge. Full credit to the team, they worked their socks off to turn this request for an easy-to-use-point of reference, into a reality.

“This is a great example of technology moving at an incredible pace to keep up with the evolving needs of brokers, and demonstrates that Knowledge Bank is here for brokers and both willing and able to support them, no matter what might happen in the market.”