Criteria Hub is helping lenders improve their mortgage propositions with its advance data analysis.
The deep search criteria engine for mortgage advisers, clubs and networks, is offering lenders valuable product point feedback via enquiries from broker users that can help improve product offerings.
Typical types of data provided to lenders includes the most popular residential and buy-to-let searches, total search volume for each lender, and lenders’ top 20 clicked criteria.
Lenders signing up with Criteria Hub to have their full criteria displayed, are also benefiting from management information they can receive from the data collected from users searching for information on the service.
Jason Hegarty, director of Criteria Hub, said: "In our lender reviews, we are able to provide information that can help them see exactly where advisers are looking for specific help.
"Lender 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."
Mr Hegarty added it is seeing record search volumes as more new users start using the service.
He said: "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 and 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."
Martin Stewart, founder of Money London, said the information will only be helpful if it is deployed and used correctly.
He said: "We meet many lenders who say they can do many things and yet when we present them with something they invariably say 'sorry, we can't help'.
"So the answer needs to be 'use technology to do the heavy lifting but let's get back to humans being allowed to do the heavy thinking.'
"There are cases stacked up on desks going nowhere but they are of such good quality I would lend them the money myself if I had it.
"The market is flawed when people earning £200,000 a year and wanting to borrow three times at less than 50 per cent loan-to-value (LTV) are struggling for options.
"No amount of clever data collection is going to fix that overnight."
aamina.zafar@ft.com
