The UK’s largest database of lending criteria, Knowledge Bank, has announced it has passed the milestone of five million searches performed on the platform.

The number of searches has grown exponentially over recent years as clients’ circumstances changed because of the COVID pandemic and cost of living changes, coupled with lending criteria changing daily.

Knowledge Bank initially launched in September 2017 meaning that, on average, over 2,400 criteria searches have been performed on the system every single day.

The system was launched to help brokers and lenders improve the mortgage advice process by removing delays as a result of aborted applications from clients falling outside of criteria. Now, criteria searching is embedded in the mortgage process and searches are performed prior to a product search to reveal which lenders will accept a clients’ circumstances.

Knowledge Bank’s platform now has over 140,000 criteria from 260 lenders across seven different lending types, which are residential, buy-to-let, equity release, self-build, second charges, bridging and commercial mortgages.

“From launching the company as a broker trying to solve a problem for the industry to completing five million searches has been an amazing journey and, in some ways, a complete whirlwind,” commented CEO and founder of Knowledge Bank, Nicola Firth.

“The support from brokers, networks, clubs and lenders has been remarkable. We’re so grateful for their ongoing commitment to Knowledge Bank and our shared goal to create a smoother and more efficient mortgage process.

“The sheer fact that over five million searches have been performed on the Knowledge Bank System shows how crucial it has been, and continues to be, for brokers to be able to check which lenders will accept their clients before they start a product search.”

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