We imagine that you have been inundated with enquiries from your clients about what the exact details are of the lenders’ policies and processes following the announcement by the government.
As the UK’s largest mortgage criteria search system, the industry looks to us to provide up to date and accurate information on lending policy.
The team here at Knowledge Bank have risen to this challenge and have created a completely free to use tool to help you understand the lenders’ position, policy and process with regards to the payment holidays granted for people suffering financial difficulties due to coronavirus. Every residential lender has been contacted and their position to date clarified.
This is a rapidly unfolding situation and in a very short space of time mortgage lenders are putting in place emergency criteria to accommodate this announcement. If their criteria is not yet detailed, please bear with them and keep checking back over the coming days as they release the information. The lenders will update Knowledge Bank in real time so you will be the first to know!
As more detail becomes available on their criteria we will add further categories to cover questions such as the interest accruals, credit bureau reporting, etc.
Criteria with regards to the lenders’ stance on Buy To Let mortgages will be on there by the end of the week.
To access this information, click here and complete a few questions so that we can verify that you are a mortgage intermediary. Once validated, you will be able to continue to access this part of the system completely free of charge. You can continue to monitor the developing situation each day and see updates from lenders as they happen.
We hope this saves you hours of time waiting in queues to speak to lenders on the phone so that you can better advise your clients.
We’re here to #KeepAdvisersAdvising so if there is any further information or support you feel you need, please don’t hesitate to contact our broker support team on either 01226 107077 or support@yourknowledgebank.co.uk.
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