Criteria Hub, the criteria search engine for networks, clubs and mortgage advisers, is providing lenders with useful product point feedback via enquiries from broker users.
According to Jason Hegarty, director of Criteria Hub, lenders signing up with the engine are benefitting from management information they can receive from the data collected from users searching criteria.
Typical types of data provided to lenders include; most popular residential and buy-to-let (BTL) searches, total search volume for each lender, lenders’ top 20 clicked criteria, reporting on lenders’ niche criteria, and lender opportunities.
Hegarty said this information can help lenders to identify areas where advisers are looking for “greater clarity” and could become a valuable addition to their own market research.
He added: “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.”
“We are seeing record search volumes as more new users start using our service. As the number of searches increases, our data will become even more important to lenders and other observers.”
As well as lenders, Criteria Hub has a growing number of packagers and distributors who are keen to see how they can make use of the data to help predict likely trends and respond accordingly, Hegarty said.
“We can provide real time market intelligence and that can only improve as our user numbers grow.”