The UK's first and only fully searchable Mortgage Criteria Directory

I do hope the criteria search is a lot easier than searching for the price on the site

You'll be pleased to know it is!

Hopefully you'll have taken a Free 7 Day Trial and seen for yourself just how quick and easy it is to get to the answers that you need. At the end of the Trial, the price is displayed....and then there are discounts that have been negotiated for members of various Clubs and Networks.

Not sure I understand this concept. Just completed a search for capital raising for business purposes that produced a couple of results (including NatWest to 90% LTV...........surely not). However, it appears the vast majority of listed lenders were blank, and it seems "advisers" are "invited" to add to the listing? If this is how the system works, why is there a charge after the initial trial period?

Not sure I understand this concept. Just completed a search for capital raising for business purposes that produced a couple of results (including NatWest to 90% LTV...........surely not). However, it appears the vast majority of listed lenders were blank, and it seems "advisers" are "invited" to add to the listing? If this is how the system works, why is there a charge after the initial trial period?

Knowledge Bank™ is a completely new concept! Imagine a world in which there were no product sourcing systems...and you had to ring round each lender, hold on the phone, navigate pages on their websites to try and find out what products were being offered.....and now imagine that you DIDN'T have to do that to find out what each Lender's Criteria was!

At this present moment in time....every single piece of published criteria by the Lenders is on there along with a lot of "unpublished" criteria too. When Knowledge Bank™ was launched, it was envisaged that Brokers would have somewhere to "bank" their "knowledge" and share it to speed up the process of placing cases, therefore saving time and earning more money. We have found that brokers "expect" the information to be there but don't always have the time to input it themselves. Therefore, we have approached Lenders and had such a fantastic response, that Lenders are now approaching us to go on there and keep their own criteria up to date. Many are using the quieter time at back end of the year to complete their criteria so you will see this increase from the almost 8,000 different pieces of criteria information that are on there currently. There are also press releases planned from Lenders who are supporting this and wanting to work with our team here at Knowledge Bank™ to make the working day for Intermediaries that bit easier!

With regards to a charge after the initial trial period, I'm sure you will appreciate that the cost to build, host, curate, update, improve, etc. the system isn't free! But, at what works out at just 71p per day to the user, and with no contract, tie-ins, credits or restrictions, people have told us that they have saved money in the time they've been able to place cases by having all of the information that's currently out there held in one easily accessible place.

And what you are seeing now is a fraction of what the system will be....we are working on a lot of exciting new features to make it even easier still to get to the information you need quicker. 

We're just trying to make things better for Brokers, so that they can spend more time seeing clients and increasing their earning potential. What you are seeing today isn't the finished product....but we didn't want to wait when what we have already is a big step in the right direction!

We are keen to hear thoughts and suggestions from both Brokers and Lenders so please do email our team on info@compass-systems.uk with absolutely anything!  

Whilst there maybe a need for this type of service, I believe success will depend on the accuracy of the information - after all we can currently obtain the wrong information from lenders free of charge!

Whether we admit it or not, advisers usually have a core of probably not more than 10 lenders they utilise for 90% of their applications, and consequently they should have a good working knowledge and understanding of criteria for these lenders. For the balance of lenders you can either conduct your own research, or as many do, ask for free help on the Cherry Forum.

I like innovation, so wish you every success, but I believe it will be a difficult road.

You're absolutely right! Our team have made Lenders aware of inaccurate information published on their own websites! Even the product sourcing systems have inaccuracies...and all this in an industry where such emphasis is placed on "Right First Time" and the "quality" of advice provided by Brokers.

And yes, whilst most Advisers won't admit it, there are always the "favourite go-to" Lenders who they know well. But, this isn't always giving the client the best possible advice and it may mean Brokers missing out on business that could have been placed had they only been able to find a 'home' for it. Of course, not to mention the Compliance issues that surround this.

Absolutely Cherry provide a fantastic service with their forums in helping Brokers to place difficult cases....and even just helping brokers retain a degree of sanity and a sense of humour in what can be a challenging industry to work in! Cherry's ethos of "Raising standards within the Industry" is what attracted us to them as this is something that we are passionate about.

We have no doubt that the road ahead will be an interesting one! (And that's before "copy cat" systems start to appear from others who may think it's easier than it has been to get to this point alone!) But we are committed to raising those standards and helping to make Broker's working days better, more efficient and more prosperous! The feedback from Brokers and Lenders has been fantasitc and the level of support that we have received so far is massively encouraging, that we are creating something that is going to change the way that Brokers place business for the better.

Those who remember life "before" product sourcing systems can see where we're heading with Knowledge Bank™!......There is another way!!