matthew corker

'Lending to limited companies' reaches top five bridging search terms

‘Lending to limited companies’ entered the top five search terms for the first time since May 2019, revealed the latest Knowledge Bank tracker data for December 2020.

According to the criteria search specialist, this suggests businesses may well be looking for bridging loans secured against properties, either to cover costs or to redevelop office spaces.

It might also hint that landlords are using bridging loans to renovate a BTL property.

‘Heavy refurbishment’ was also included in the top five search terms in the bridging market for the first time since September 2020.

This may be due to the shift towards more home-based working, with clients looking to undertake major redevelopments to add a space for them to work in.

The top three searches for bridging were ‘regulated bridging’ in first place, followed by ‘maximum LTV’ and ‘minimum loan amount’ in second, and third place, respectively.

“Maximum LTV for commercial investment’ remained in the top five for the commercial market searches, taking up third place — one spot lower than November’s results.

‘Minimum loan amount’ and ‘maximum LTV’ also remained popular, as well as ‘semi-commercial properties’ which was the top search in December.

In the BTL market, ‘first-time landlord’ remained the top search term for the fourth month in a row, followed by ‘lending to limited companies’.

‘Requirement to be a homeowner’ and ‘consumer BTLs’ were also popular search terms for this market.

Matthew Corker, lender relationship manager at Knowledge Bank (pictured above), said: “The market is again shifting quickly in response to the changing environment.
With another lockdown, lenders are certain to continue adapting criteria to keep up with the evolving market.

“It is now physically impossible for any mortgage broker to keep all the different criteria in their heads.

“So, it is now more important than ever for brokers to use a comprehensive criteria search system to ensure they can provide their clients with best advice – and evidence that they have done so.”

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