Knowledge Bank launches second charge comparison tool

Knowledge Bank has teamed up with Loans Warehouse to allow brokers to compare first and second charge mortgage criteria side by side.

Loans Warehouse is uploading criteria for all its panel lenders onto Knowledge Bank which will allow advisers to compare more than 400 second charge loans alongside first-charge options.

Loans Warehouse also offers packaging for those brokers who would prefer to outsource the process.

Knowledge Bank chief executive Nicola Firth says: “Loans Warehouse is a driving force in the second charge loan sector as is evident with providers such as Vida offering their new and exciting second charge loan range through them.

“With this partnership we are creating the ability for brokers to search for second charge loans based upon the unique criteria of their clients.

“We will also provide an easy access link through to Loans Warehouse for when brokers want more help regarding the second charge market.

“This offers brokers a simple, upfront way to ensure that they can always provide their client with best advice whether it’s on a first or second charge and provide the evidence that they have done so.”

Loans Warehouse co-founder Matt Tristram (pictured) says: “This partnership with Knowledge Bank will be revolutionary for brokers as, for the first time, they will be able to compare criteria for first and second charge loans side by side.  

“If a second charge is the right option, we are also offering a helping hand to both package the case and provide easy access to the right lender for their client.  

“Brokers are pretty fed up with taking several steps down the advice process only to find out that their client’s circumstances do not fit the lending criteria.

“That’s why we’re very pleased to create this partnership, which gives brokers the confidence of knowing, right at the outset, whether there is a criteria match.”

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