Criteria Hub, the search criteria engine for mortgage advisers, clubs and networks, is providing lenders with product point feedback via enquiries from broker users which can help improve product offerings.
Jason Hegarty, director of Criteria Hub, said that lenders signing up with them to have their full criteria displayed are also benefiting from management information they can receive from the data collected from users searching criteria on Criteria Hub.
Typical types of data provided to lenders include the most popular residential and buy-to-let searches, total search volume for each lender, lenders’ top 20 clicked criteria, lender opportunities and reporting on lenders’ niche criteria
Hegarty said: “In our lender reviews, we are able to provide information that can help them see exactly where advisers are looking for specific help.
“Lenders can identify areas where advisers are looking for greater clarity and could become a valuable addition to their own market research.
“Our data can also help show lenders what areas of the market are popular and therefore where new opportunities could lie and by fine tuning their existing offerings better reflect what advisers are seeking for their customers.”
He added: “We are seeing record search volumes as more new users start using our service. As the number of searches increases, so our data will become even more important to lenders and other observers.
“As well as our lenders, we already have a growing number of packager/ distributors who are keen to see how they can make use of our data to help predict likely trends and respond accordingly. We can provide real time market intelligence and that can only improve as our user numbers grow.”