Lenders with their criteria on Knowledge Bank are now able to select which packagers they accept business from and whether it is optional or mandatory for its brokers to go through a packager to place business with them.

This option will be available for every different lending type, so the information provided will be specific to the search conducted by the broker.

If any or all of the lenders revealed in the search require the broker to go through a packager or master broker to submit business this will denoted by a P symbol.  

When the broker clicks the packager option they will see all the details of the packager the lender has approved them to use, together with the packager’s contact details and link to their website.

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“After a broker has searched the criteria on Knowledge Bank to find out which lenders may take their client’s case, it then makes it simple for them to contact the packager or master broker with the case details straight away if the lender prefers this route of case submission,” said Nicola Firth, CEO of Knowledge Bank (pictured above), and its parent company Compass Systems.

“Like the whole of Knowledge Bank, the packager section has been designed to make brokers’ lives easier and shorten the amount of time it takes to find the information they need and place a case.

“In this case, it will also make life easier for lenders and showcase both packagers and master brokers.”

Mortgage brokers can sign up for a 30-day free trial on the Knowledge Bank website.