The tool streamlines interactions between brokers and lenders
Seven additional lenders have joined Knowledge Bank’s Notify since the beginning of the year, bringing the total number to 33 active lenders on the platform.
The new lenders that signed up this year are Stafford Railway Building Society, Buckinghamshire Building Society, Newbury Building Society, Earl Shilton Building Society, Leek Building Society, Gatehouse Bank, and NatWest.
Knowledge Bank introduced the tool last year, aiming to streamline interactions between brokers and lenders, facilitating quicker and more transparent case placements. Since its debut in September, Notify has channelled over £100 million of new business from brokers to lenders.
NatWest boasts the swiftest case agreement time this year, taking under nine minutes to review and extend an invitation for a decision in principle.
Shane Chawatama (pictured), sales director at Knowledge Bank, anticipates enhanced efficiency for their 4,000-plus broker community with the inclusion of these latest lenders.
“We have used our search insights to determine which lenders would deliver the greatest value to our brokers,” Chawatama said. “Based on the most popular searches and criteria gradings, brokers are able to see which lenders are most likely to accept their case and then present it to the lender to iron out any quirks or questions to secure a home for it.”
In 2023 alone, Knowledge Bank brokers conducted over 1.5 million searches, with integrated platforms potentially doubling this figure.
“For brokers, we understand that their time is so precious, even getting a quick ‘no’ to a case allows them to move on and use the time working on other opportunities,” Chawatama stated. “But having that surety of a written record of the detailed conversation about the case dramatically reduces the chances of things going wrong later on in the process.
“There are not many things worse for a broker than submitting a case and their client paying fees, only to be declined later down the line due to a technicality on the lender’s criteria. Notify is there so you can be sure that when you send the case in, it’s a smooth journey through to the offer.”
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