Criteria Hub, a self-styled ‘deep search’ criteria engine for mortgage advisers, clubs and networks, has reached its initial target of 50 partnering lenders providing their most exhaustive criteria to the search engine.
It officially launches in January 2018 and currently free for brokers to use. It was established by mortgage broker, Jason Hegarty, and is designed to save advisers time when researching potential sources of finance, by helping to highlight only those lenders which will consider lending under specific circumstances.
Hegarty, director at Criteria Hub, said: “I have lost count of the number of times as a mortgage broker, where I and my colleagues have spent hours checking individual criteria sheets, ringing BDMs and lender helpdesks to see whether they will lend to clients.This was time we could have used more profitably working directly with customers.
“Criteria Hub’s partnership with lenders provides the kind of accurate fine criteria detail that means that through our ground breaking online platform, advisers have the perfect tool to save them time as well as provide evidence of the research that has been made. Partnering lenders criteria is managed by the lenders themselves which are risk checked, constantly updated and we have direct communication with all of our lenders to create a connected ecosystem for all our members in one place.
“Lenders have been delighted with what we are offering and we are ahead of our forecasts for lender numbers by already having over 50 lenders on our platform, all with their full criteria on our system. We knew we were on the right track, when we saw that many of our lenders’ BDMs use our system to ensure that they are up to date when answering broker queries.”