Knowledge Bank

Regulated bridging remains top broker search

‘Regulated bridging’ continues to dominate, reaching the number one spot in Knowledge Bank’s September tracker results.

‘Regulated bridging’ has been the top search term since April this year, and has featured in the top two since November 2020.

‘Minimum loan amount’ was the second most popular bridging search during the month, followed by ‘maximum LTV’ and ‘commercial property’.

‘Second-charge loan’ appeared in the fifth spot for the first time since February 2021. 

According to Knowledge Bank, those wanting second-charge bridging loans are looking for finance for a range of activities, such as business expansion, property investment, and renovating existing properties to make them more energy efficient.  

In the commercial arena, ‘semi-commercial properties’ remained the top search for the 15th consecutive month bar July, followed by ‘mixed-use properties/part commercial’.

‘Minimum loan amount’ and ‘maximum LTV’ were also in demand in this sector, placing third and fourth, respectively.

For BTL, ‘first-time landlord’ remained the number one search, with ‘lending to limited companies’ and ‘minimum income — interest only/part-and-part single applicant’ taking the next two spots.

Matthew Corker, operations director at Knowledge Bank (pictured above), said: “Another constant from the pandemic that is certain to continue is the vast number of criteria changes — there have been a remarkable 37,214 changes so far this year. 

“With the continual stream of criteria changes, brokers do not 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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