Knowledge Bank has added a new criteria category to help brokers to navigate the money shooting requirements with regard to EWS1 forms and acceptable safety certificate providers.
Nicola Firth
The update follows recent developments in the upholstery crisis, in which some lenders withdraws in mortgage offers due to concerns about which companies had issued these forms.
After a BBC news report in January, that the concern about the lender about the validity of certain EWS1 forms emphasized, Knowledge Bank acted to provide brokers.
The new category enables brokers to immediately see whether a lender accepts a mortgage application, regardless of the company that has issued the EWS1 form. If a lender imposes restrictions, the criteria will describe which safety certificate providers are considered acceptable.
This critical update ensures that brokers can give accurate advice to customers who have uncertainty about mortgage goods inspections due to EWS1 forms. It also streamlines the application process by eliminating the need for brokers to manually check with individual lenders.
Lenders have direct access to update their criteria on KB Pro, which gives them the opportunity to change their criteria immediately, which is not only updated for all their internal teams and knowledge bench for real estate agents, but also their interactive criteria and systems from third parties, such as external systems such as third-party systems such as the Xplan mortgage, OMS and Air Sourcing from Iress, so accurate information is displayed everywhere and in real time.
Nicola Firth, Chief Executive of Knowledge Bank, noted: “The recent upholstery -related concerns have caused needs for buyers and disturbed mortgage applications and even seeing that mortgage is being withdrawn. By adding this new category, we ensure that brokers have the information they need within reach to help customers navigate this problem. ‘