Knowledge Bank

Knowledge Bank introduces criteria activity tracker

Knowledge Bank has announced the launch of a new monthly criteria activity tracker to keep brokers and lenders up to date with criteria changes in the mortgage and loan sectors.

The monthly tracker will enable brokers to see trends within sectors broken own by product type, so they can keep up to date with criteria updates in specific sectors.

In May, there were 53,544 searchable criteria on Knowledge Bank from more than 100 lenders, according to the tracker.

The criteria activity tracker shows the top five searches performed by brokers in the product sectors: 

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The tracker also revealed that on average, brokers searched on 4.5 different criteria categories for each client, demonstrating the complex borrowing needs of many broker’s clients.

Over 203,000 criteria searches have been carried out using Knowledge Bank since it launched in September 2017.

Nicola Firth, CEO at Knowledge Bank (pictured above), said that it recognised the need for a definitive source of information in the market on the scale and frequency of criteria changes being made.

“One of the things that surprises most brokers is the sheer scale of changes being made every week.

“Brokers are simply too busy to spend time checking through countless spreadsheets or lender websites for updates, so the criteria activity tracker will provide a simple and regular update on criteria movement in the sector.” 

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