Since the Chancellor Rishi Sunak announced a payment holiday on the 18th March, lenders have seen a rise in homeowners trying to access payment holidays.
‘Covid-19 payment holiday’ was the top term searched for in residential mortgages and second in the buy-to-let section.
In the bridging section, ‘regulated bridging’ was top and ‘maximum loan-to-value for bridging’ was second.
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‘Semi-commercial properties’ was the top search in the commercial section, followed by ‘maximum LTV’ and ‘commercial investment mortgages’.
Knowledge Bank had almost 500 changes to criteria from 14 different lenders in 48 hours just this week.
Nicola Firth, founder and CEO at Knowledge Bank (pictured above), said: “With the number of lender criteria changes increasing by the day, there has never been a more important time to have subscription to a criteria search engine.
“At this time of change it is important to reflect the issues and the searches that brokers are carrying out as it reflects on the market as a whole.”