Knowledge Bank launches industry’s first interactive criteria guide
Knowledge Bank, the UK’s largest database of mortgage lending criteria, has launched a bespoke interactive criteria guide for lenders to promote their criteria in more places than ever to brokers.
The guide is the first of its kind and gives lenders the ability to promote their criteria not only on their website but on email footers, at shows and events via QR code or on social media. Fully searchable, it provides detailed information on all of the lending types supported by the lender and facilitates real-time updates to criteria.
The interactive criteria guide is both cost effective and environmentally friendly as it removes the need for lenders to be continually updating and printing literature. It is also provides lenders with a much more robust tool than PDF’s on websites as the detail with regards to the wording comes directly from what the lender inputs into Knowledge Bank providing consistency and uniformity across all of their communications to significantly reduce the number of cases received that can’t progress due to misunderstandings around criteria.
Being interactive, it is fully searchable and utilises Knowledge Bank’s exclusive “smart search” features which enables brokers to find exactly what they’re looking for taking into account the different names, terms or spellings used.
Mike Walters, sales director – mortgages for United Trust Bank who were the first lender to take advantage of Knowledge Bank’s latest development said: “We’re always looking for ways to help brokers write and complete more business and this initiative continues our investment in innovative technology which both simplifies and accelerates the broker journey from sourcing to pay out. We’re big fans of Knowledge Bank and it’s great to work with a company which shares our desire to develop technology which really adds value.”
Nicola Firth at Knowledge Bank said, “This new interactive criteria guide is a terrific example of the technological advancements now available for lenders to proactively improve the process of working with brokers. The days of lenders having to constantly update and print our criteria guides are a thing of the past and this is another example of technology improving the mortgage advice process.
“By using criteria search systems brokers can now save themselves hours and hours and the digital criteria guide will further simplify the process and offer reassurance that the data they are using is accurate and up to date and they won’t be caught out by criteria announcements they may have missed.”
The digital criteria guide is the latest innovation from Knowledge Bank which is constantly improving its search system to benefit brokers. In the last year, Knowledge Bank has updated over 45,000 criteria and partnered with Iress and Air Sourcing to provide the industry’s first fully integrated product and criteria search experience across residential, buy-to-let and equity release mortgages.