This comes in response to an unprecedented number of lenders withdrawing products from the market while they re-price and re-evaluate their viability.
The criteria sourcing provider will send out daily emails every evening with a summary of changes on both criteria and products to help keep both brokers and their mortgage desk users up to date. Live on-screen banners will also allow brokers to see product changes in ‘real time’.
Brokers who don’t currently subscribe to Knowledge Bank can take advantage of a no-obligation, free, 30-day full trial of the system to benefit from the timely notifications on who is lending and on what.
Nicola Firth, founder and CEO of Knowledge Bank, said: “We can see that both brokers and lenders needed help in communicating product and criteria changes to brokers and we are perfectly positioned in the advice process to be able to assist in these challenging times.
“With some of the product sourcing systems struggling to keep up with the pace of change, the notifications on our system puts brokers in the know at the point that they are placing the case. The response we’ve had from brokers to this as well as our daily update emails has been phenomenal, they really value that extra help at this time.”
