Nicola Firth

Second charge loans enter top five bridging searches

Searches for second charge loans have broken into the top five of Knowledge Bank's criteria search index for the first time.

It was the fourth most searched for category in the bridging sector in April, with regulated bridging remaining top. 

Lending to limited companies has taken the top spot in the buy-to-let sector — rising from second in March — while maximum LTV has been replaced at top spot in the commercial category by minimum loan amount.

Top five searches performed by brokers on Knowledge Bank during April 2019:

“The criteria index shows us the challenges that brokers are facing in placing cases and how important it is to sort the wheat from the chaff,” said Nicola Firth, CEO at Knowledge Bank (pictured above).

“It is so frustrating for brokers to approach a lender on behalf of their customer, thinking that they will be accepted on a product [only] to find that they fall outside of criteria.”

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