Knowledge Bank debuts post-offer criteria search options – Mortgage Finance Gazette
Knowledge Bank has launched two new search options that allow brokers to establish which lenders offer product flexibility after an offer has been made.
The criteria search engine says intermediaries will now be able to search for ‘change of product – rates reduced after mortgage offer’ that will show which lenders allow clients to switch to a more cost-effective rate post offer, but before completion.
Brokers can now also search the system under the ‘product transfer change of rate’ tab, which allows users to see if lenders will permit a change of rate for product transfer after selection, but prior to completion.
The business says it introduced the options “in response to changing market conditions”, that saw chancellor Jeremy Hunt calm international debt markets in October, by largely reversing former chancellor Kwasi Kwarteng’s tax-cutting mini-budget on 23 September, which saw the number of products on the market fall sharply while remaining loan prices jumped. The new…
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