Knowledge Bank and Iress say they have combined to provide brokers with “the UK’s very first, fully-integrated product and criteria” database.

The system allows brokers using Iress Xplan software to input client requirements just once using a single login. It then displays results detailing lenders who will accept the client based on both the products available and their criteria circumstances.

The firms say this is “dramatically different to other systems where brokers still need either separate logins, or to conduct searches on two separate parts of the system”.

This system builds on the April 2020 collaboration between Knowledge Bank and Iress.

Knowledge Bank chief executive Nicola Firth says: “The result of this collaboration is a system that will revolutionise the market. It creates the ultimate sourcing tool for brokers to get the best possible outcomes for their clients.

“It is no longer a viable option to search only for mortgage products and not criteria, not with over 52,000 criteria changes in 2020 alone – that’s 1000 changes to criteria every single week.  So by teaming up with Iress we have ensured that brokers can get both the most accurate and up-to-date product and criteria information all in one place.”

Firth adds: “Never again will it be necessary for brokers to log into multiple different systems, spending hours cross-referencing and rekeying client data, to find which lender will provide a mortgage for their client.”

Knowledge Bank holds over 125,000 pieces of lending criteria for over 250 lenders across eight different product areas spanning residential, buy-to-let, bridging and commercial.