Knowledge Bank has added a new criteria category to its mortgage search system to address concerns over EWS1 forms and acceptable safety certificate providers.
This move comes after some lenders withdrew mortgage offers due to uncertainties about the validity of certain EWS1 forms.
Following a BBC report on 31st January 2025, Knowledge Bank said it aims to give brokers clarity on lender requirements about EWS1 forms.
Brokers can now quickly see if a lender accepts a mortgage application regardless of the company issuing the EWS1 form.
If a lender has restrictions, details on acceptable safety certificate providers are provided.
This update helps brokers give accurate advice, simplifying the application process by avoiding manual checks with individual lenders, reducing delays for buyers and sellers.
Lenders can update their criteria instantly on KB PRO, which reflects everywhere, including Interactive Criteria Guides and third-party systems like Iress’ XPlan Mortgage.
Nicola Firth, CEO of Knowledge Bank, said: “At Knowledge Bank, we are committed to keeping brokers informed and empowered with real-time criteria updates.
“The recent cladding-related concerns have caused distress for buyers and disrupted mortgage applications and even seen mortgage offers rescinded.
“By adding this new category, we are ensuring brokers have the information they need at their fingertips to help clients navigate this issue.”
Firth added: “It is also bringing it to the forefront with lenders, some of whom have yet to confirm their stance on the matter.
“By adding the criteria category to Knowledge Bank, we are being proactive alongside lenders in asking them to consider their policy to avoid future incidences of mortgage applications being declined or mortgage offers being withdrawn.”
