Knowledge Bank has permanently reduced the cost of subscribing to its criteria search system – lowering the cost by up to 40%.

As part of its 12 Days of Christmas offer, Knowledge Bank reduced subscriptions for a month, but has decided to keep them at the lower price permanently.

From today, Knowledge Bank has reduced the cost of a single broker monthly subscription to £14.99 +VAT, down from the previous cost of £25 +VAT, a saving of 40%. 

An annual subscription will now be £149.99 +VAT, down from £240.00 +VAT. There will also be additional discounts for firms with five or more brokers.

Nicola Firth, CEO of Knowledge Bank, said: “When we launched Knowledge Bank in September 2017, we had always planned to reduce prices once we had reached a certain number of subscriptions. And now, thanks to all the support we have received from the industry, we are at a size where we are able to pass our cost savings straight onto brokers.

“We have been overwhelmed by the support that we have received over the past 18 months, both from brokers and from lenders.  As a result, we have exceeded 80,000 different pieces of criteria, an impossible amount on information for anyone to keep in their head at one time. Knowledge Bank also records evidence of research which can be saved directly into a client’s file, to ensure a robust file for compliance.

“This reduction in prices will make Knowledge Bank at the very least cost neutral and will save brokers money when combined with the amount of time it saves them to carry out a search.  This invaluable tool should therefore be a ‘no-brainer’ as it enables brokers both to see more new clients and better service their existing clients.”