The top mortgage criteria search under the buy-to-let category in March was, according to Knowledge Bank, ‘first-time landlord’.
This was followed by ‘lending to limited companies’, ‘requirement to be a homeowner’, ‘houses of multiple occupation’, and ‘first-time buyer’.
Knowledge Bank adds that within the residential category, two out of the five searches included maximum ages – ‘maximum age at the end of term’ at number one and ‘maximum age at application’ in the third slot.
Meanwhile, within the second charge category, debt issues dominated, much as they did last month, with three of the top five searches including financial stress, specifically: ‘capital rising for debt consolidation’ at number two, ‘mortgage or secured loan arrears or defaults’ at three, and ‘debt management plan – ongoing/ current’ as the fourth most looked-for criteria.
‘Maximum loan to value’ was the most searched criteria in this category, and was also the top search for the self-build, overseas, and commercial categories.
In equity release, ‘tenure’ was number one in March, with ‘timber framed construction’ and two, and ‘non-standard construction’ coming next.
Knowledge Bank chief executive Nicola Firth comments: “As we head into the second quarter of 2019, the landscape for brokers advising clients continues to be more and more complicated.
“Everyone in the housing market is reacting to external financial and competitive forces within a period of unprecedented change with Brexit, and mortgage and loan providers are no exception.
“There are daily changes to both products and criteria – the reality for brokers is that borrowers are unaware or unconcerned as long as they can be paired with the right product from the right lender.”