Matthew Corker

Max LTV becomes top bridging broker search




The latest Knowledge Bank data has revealed that maximum LTV was the most popular search term for bridging brokers in October.

According to the most recent activity tracker, 'maximum LTV' was the top search for both the bridging and second-charge mortgage markets.

'Minimum loan amount' was the second most popular search for bridging brokers, followed by 'regulated bridging', 'commercial property', and 'second-charge loan'.

'Maximum LTV' was a topic of interest for brokers in the commercial market as well, claiming the second spot.

This could be a result of lenders continuing to tighten criteria, especially as we head into a second lockdown, despite the property market staying open.

“The unknown impact of a second national lockdown on employment and the wider economy is causing panic in the housing market,” said Matthew Corker, lender relationship manager at Knowledge Bank (pictured above).

The BTL market saw a new search take the top spot, with 'first-time landlord' being the most popular search among BTL brokers, followed by 'requirement to be a homeowner' in third place.

According to Knowledge Bank, as people progressively worry about affordability in the residential market, homebuyers may be exploring alternative options to get a foot onto the property ladder, possibly resulting in new landlords coming to the market.

“The bottom line here is that people are desperately looking to get onto the property ladder,” added Matthew.

“While there is much news about lenders returning to the market and introducing new products, we are already seeing signs that some products may be pulled in light of the second national lockdown, as lender appetite for risk is reduced."

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