The criteria specialist suggests that borrowers are seeking out bridging finance to make minor improvements to their properties.

Some of these loans may be connected to the recent trend of landlords looking to buy cheaper properties that need a renovation via a bridging loan, then exiting onto a BTL mortgage.

Despite this, the results also highlight an interest for more significant changes to properties, with ‘heavy refurbishment’ and ‘maximum LTV’ also featuring in the top five search terms.

‘Regulated bridging’ was the second most searched-for term — which has continued to feature in the top two spots since November 2020 — showing that borrowers have been using bridging finance for properties they or their family will use.

‘Minimum loan amount’ was also a popular term in the commercial arena, taking second position.

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It was topped by ‘semi-commercial properties’, which still dominates broker searches for this sector.

‘Maximum LTV’ and ‘mixed-use properties/part commercial’ were also in demand, placing third and fourth, respectively.

For BTL, ‘first-time landlord’ remained the number one search term, followed by ‘lending to limited companies’ and ‘requirement to be a homeowner’ taking the next two spots.

According to Matthew Corker, operations director at Knowledge Bank (pictured above), broker searches are driving changes to lenders’ criteria. 

“Our analysis shows lenders have been reviewing a range of criteria recently, particularly in areas where brokers are searching,” he explained.

“Interestingly, searches for the minimum loan amount suggests that alongside major investments, borrowers are looking to conduct smaller projects, which may be connected to rising energy costs and EPC targets, as homeowners and landlords are looking to reduce their heating bills through the winter.”