Knowledge Bank has introduced a free tool for brokers, which is designed to help keep track of lender COVID-19 criteria changes.
Knowledge Bank has introduced a free tool for brokers, which is designed to help keep track of lender COVID-19 criteria changes.
The bank has created the tool to aid brokers in accessing the information they need to best equip them to deal with the volume of enquiries that they are receiving from their clients, it said.
The tool will be updated in real time by the lenders themselves as they announce further policy changes.
Furthermore, the bank outlined that it will also be totally responsive, adding more questions and answers around this subject as they emerge.
Lender’s stances on buy-to-let mortgages will also be added to the tool by the end of the week.
Nicola Firth, founder and chief executive of Knowledge Bank said: “As the UK’s largest and most comprehensive mortgage criteria search system, the industry looks to us to provide up-to-date and accurate information on lending policy.
“It was important to us that we rose to this challenge today in light of the announcements yesterday and on Monday.
“I’m incredibly proud of the team here at Knowledge Bank who have stepped up to that challenge within a day and have liaised with our contacts at the lenders and created a free to use tool for brokers to use to best advise their clients on each lender’s stance and process.
“We continue with our commitment to support both brokers and lenders in these demanding times and to do everything we can to keep advisers advising.”
