Criteria search system Knowledge Bank has announced a partnership with Loans Warehouse.
Master broker Loans Warehouse is uploading onto Knowledge Bank criteria from all of the second charge lenders that it has on its panel, including Vida Homeloans’ recently launched second charge range.
As a result, brokers will be able to see criteria on a whole range of second charges alongside that for residential first charge mortgages. For the first time, they will be able to compare this criteria side by side to see which is the most appropriate for their clients.
The partnership means that mortgage brokers will be able to search up to date criteria from more than 400 second charge loans on Knowledge Bank, with the facility to link through to Loans Warehouse’s team if they need help packaging the case or gaining access to any lender.
Nicola Firth, CEO of Knowledge Bank, said: “Loans Warehouse is a driving force in the second charge loan sector as is evident with providers such as Vida offering their new and exciting second charge loan range through them. With this partnership we are creating the ability for brokers to search for second charge loans based upon the unique criteria of their clients. We will also provide an easy access link through to Loans Warehouse for when brokers want more help regarding the second charge market.
“This offers brokers a simple, upfront way to ensure that they can always provide their client with best advice whether it’s on a first or second charge and provide the evidence that they have done so.”
Matt Tristram, co-founder and director of Loans Warehouse, added: “This partnership with Knowledge Bank will be revolutionary for brokers as, for the first time, they will be able to compare criteria for first and second charge loans side by side. If a second charge is the right option, we are also offering a helping hand to both package the case and provide easy access to the right lender for their client.
“Brokers are pretty fed up with taking several steps down the advice process only to find out that their client’s circumstances do not fit the lending criteria. That’s why we’re very pleased to create this partnership with Knowledge Bank which gives brokers the confidence of knowing, right at the outset, whether there is a criteria match. The market has had to endure this waste of time and effort for too long but upfront criteria searching via Knowledge Bank offers a simple and practical solution.”