'Excluded commercial sectors' among top five broker searches

‘Excluded commercial sectors’ has reached the top five most searched for terms in the commercial finance market by brokers in June, according to the latest Knowledge Bank data.

It replaced the previous month’s fifth-placed term, ‘commercial investment mortgages’ — however, the top three most popular searches remained ‘semi-commercial properties’, ‘maximum LTV’,‘minimum loan amount’ and ‘mixed-use properties/part commercial’.

Meanwhile, ‘regulated bridging’ kept its top position in the bridging finance market, potentially due to the end of the stamp duty holiday in June prompting clients to use bridging to avoid chains collapsing.

‘Light refurbishment’ was also introduced to the top five most searched criteria, which may indicate that, with rising property prices, many people are choosing to refurbish their homes rather than move, using a short-term loan to fund this before refinancing onto a long-term mortgage.

This is also likely to be used by BTL investors refurbishing a property before letting it out and later remortgaging onto a BTL loan when the refurbishment is complete.

In the BTL space, ‘first-time landlord’ also held its spot as the most searched for term, followed by ‘lending to limited companies’.

Commenting on the latest results, Matthew Corker, operations director at Knowledge Bank (pictured above), said: “Although we have moved passed the stamp duty deadline, the appetite for moving does not look set to dissipate any time soon.

“With this rush of clients, brokers don’t have time to spend hours every day on the phone to lenders and updating spreadsheets with the latest criteria.

“Using a comprehensive criteria search system can save brokers a massive amount of time and also ensure they are providing best advice.”

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