Knowledge Bank confirmed that brokers will have full and free access to all of the criteria it holds on the lending types available through Xplan – residential, buy-to-let, self-build and second charges.
This will be included in the price of their Xplan licence.
Andrew Simon, executive general manager, product, UK Iress said: “We’re thrilled to be integrating with Knowledge Bank.
“At this particularly difficult time in the market we’re trying to make the lives of our customers easier and this integration means that, rather than spending time checking lending criteria, they can focus their efforts on where it’s most needed – on advising their clients and providing value.”
Knowledge Bank CEO Nicola Firth noted that since the coronavirus outbreak and the announcement of payment holidays, more than 4,000 pieces of criteria have changed in under a month.
“But even before then there were 9,200 pieces of criteria either added or changed in the first quarter of this year, so it is clearly impossible for anyone to keep this in their head,” she said.
“This integration with financial technology company Iress, and its mortgage software Xplan, means that brokers can now search for both products and criteria all in one place receiving the most accurate and up-to-date information.”