Matthew Corker, Knowledge Bank

Covid-19 LTV restrictions top bridging broker searches




New figures from Knowledge Bank found that 'Covid-19 temporary maximum LTV restrictions' was the most frequent search for bridging finance.

April’s results from the monthly tracker of criteria searches reveal the extent to which Covid-19 is shaking up the market and dominating brokers’ minds.

The same search also came out top across the residential, BTL and second-charge markets.

The other most popular searches for bridging finance included regulated bridging, minimum loan amount, minimum property value, and maximum LTV for bridging.

The top search for commercial finance was maximum LTV for commercial investment.

Brokers looking for commercial finance also searched for criteria relating to semi-commerical properties, commercial investment mortgages, and minimum loan amounts last month.

Internal/AVM/desktop valuations were the second highest sought for in the BTL category.

‘Covid-19: furloughed workers’ also made the top five searches in the residential market.

Matthew Corker, lender relationship manager at Knowledge Bank (pictured above), commented: “With lenders across the board cutting back sharply on LTV and, in some cases, temporarily withdrawing from the market, brokers are working harder than ever to keep track of an ever-changing landscape and get the best deals for their clients.

“We’ve had just short of 2,000 brokers sign up to Knowledge Bank’s free Covid-19 ‘live feed’ — updated in real time by lenders.

“With events moving so fast, it is vital that brokers use all the means and the technology at their disposal to keep pace with what is happening in the market.”

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