The latest development will allow brokers to check the product transfer windows for every residential and buy-to-let (BTL) lender which offers a rate switch.
A lender will often waive the early repayment charge (ERC) for borrowers remortgaging onto another of its own products; this tool allows brokers to find the time-frame in which residential and buy-to-let lenders will allow a product switch.
Nicola Firth, founder and chief executive of Knowledge Bank, said: “As always at Knowledge Bank, the broker and the lender are at the heart of everything we do.
“We constantly invite brokers to give us feedback on the system, and ask them what they would like added to help them place cases more efficiently.
“This new product transfer feature is a perfect example of our team’s determination to provide the best solution for brokers.
“This is the first in a number of new releases on the system for both brokers and lenders that will further enhance user experience.
“This latest development has been extremely popular with our brokers, and we’ve already had some great feedback from them.
“We continue to evolve Knowledge Bank to ensure we remain an invaluable asset for brokers.”
