This is the first time it has entered the top five searches in the bridging category since February 2019.

Knowledge Bank's latest criteria search results for January 2021 suggest that the volume of searches for ‘development bridging — maximum loan to GDV LTV against end value’ could mean that people are using bridging loans for major redevelopments.

‘Maximum LTV’, ‘regulated bridging’ and ‘minimum loan amount’ remained in the top three most searched terms for bridging, albeit in a slightly different order compared to last month’s results.

For the commercial market searches, ‘commercial owner occupier’ entered the top five, potentially to raise funds which can then be reinvested into the business.

‘Semi-commercial’ remained the most popular term in this area, followed by ‘maximum LTV for commercial investment’ and ‘minimum loan amount’.

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In the BTL sector, ‘first-time buyers’ reached the top five search criteria.

The last time it was included was in February 2020.

‘Lending to limited companies’ was the most searched term, which could be due to a rush of landlords setting up companies before punitive tax changes take effect, as from April 2021, landlords will no longer be able to offset any of their mortgage interest against their tax.

Matthew Corker, operations director at Knowledge Bank (pictured above) said: “With the end of both the stamp duty holiday and furlough scheme [in sight], 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.”