Criteria Hub sees individual searches rocket
Criteria Hub, the ‘deep search’ criteria engine for mortgage advisers, clubs and networks, which officially launches in January, has reported increasing criteria searches of its database by brokers looking to ensure that they only target those lenders who can potentially lend to their clients.
In the 90 days since Criteria Hub opened its online platform in a free to use pilot scheme to brokers, 15000 individual searches have been made looking to confirm lenders’ willingness to lend on a single part of their criteria.
Since the soft launch, users who are identified specifically as brokers, have then gone on to do an average of roughly three specific click throughs (over 41500 in the past three months) for every individual search to mine extra information on lenders who have stated they can lend in that client’s particular circumstances.
According to Director, Jason Hegarty, even the directors have been astonished at how popular the system has already become.
He said, “The amount of support we are already seeing for our criteria engine is staggering, particularly as we have not even officially launched yet. It also illustrates just how much broker business is crystallising around the more specialist areas, where enquiries are non- vanilla. We expect this trend to grow as so many prospective customers do not fit the ‘one size fits all’ underwriting approach of the bigger high street lenders.
As our lender base increases, our service will become even more comprehensive and we are already well on our way to including the majority of lenders in Q1 next year.”
Tim Stevens at brokerage, The Mortgage Lady, commented:
“It has been a pleasure to work with the team at Criteria Hub over the last few months as their criteria search product nears full launch.
We are impressed enough to say that we are already fully committed to introducing the functionality at the very core of our ongoing processes (both sales and compliance) and consider this one of the most important developments we have seen for the mortgage broker community in many years.”