Mortgage criteria search system Knowledge Bank has added affordability calculators for every lender on the system.
This means users can see which lenders cater for their clients’ circumstances and work out affordability, all in one place.
In 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 now up to 54 lenders with another 40 who have registered but are yet to upload their criteria.
Knowledge Bank has it is being approached by lenders 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 4,000 in three weeks.
Nicola Firth, CEO of Knowledge Bank and its parent company Compass Systems, said: “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.”