Nicola Firth

Knowledge Bank introduces new service for lenders

Knowledge Bank has launched a new service which offers the mortgage industry instant data regarding what brokers are searching for.

Knowledge Insights will provide lenders with an overview as to what areas of lending criteria are the most popular and most required.

This up-to-date search criteria will give lenders a better understanding of what brokers are being asked for at any point in time, instead of looking at data two to three months out of date.

Lenders can use the data to look at their own propositions and see where they may be missing out on business.

Knowledge Bank has agreed to share its data with the FCA and other trade bodies which request it.

Nicola Firth, CEO at Knowledge Bank (pictured above), said: “Data analysis is vitally important to mortgage lenders to enable them to constantly review their product offering and the criteria that sits behind their lending decisions. 

“As most often now, criteria is the key driver now as opposed to the rate in terms of which lender the case will be placed with.

“We believe that Knowledge Insights will transform the market and the way that lenders develop products and policy, providing a level of insight that has never before been available.”

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