You are here: Home - News -

Broker criteria searches focus on ‘maximum age at end of term’ and ‘JBSP’ ‒ Knowledge Bank

  • 02/11/2023
  • 0
Broker criteria searches focus on ‘maximum age at end of term’ and ‘JBSP’ ‒ Knowledge Bank
The financial landscape continues to challenge borrowers and lenders, said Knowledge Bank.

The sourcing system explained that, while long-standing challenges in the market have remained consistent throughout the year, emerging trends suggest brokers are exploring new strategies to find solutions for their clients.

In its latest Criteria Index for September, the most searched-for terms by brokers are revealed from across the market.

In the residential sector, ‘Maximum Age at End of Term’ is most searched for, underscoring the current caution around lending to older individuals. This reflects possible concerns about repayment affordability as applicants get closer to retirement.

The search term ‘Joint Borrower, Sole Proprietor’ (JBSP) has also surged in the residential sector over the past three months.

Knowledge Bank said this indicates that brokers are still looking for creative ways to handle mortgage affordability in the current economy.


Specialist lending

In buy-to-let, ‘Lending to Limited Companies’ remains the top search, a trend that has been consistent throughout the year.

And in the second charge lending sector, the focus is on maximising borrowing. ‘Maximum LTV’ consistently ranks as the top search term, as people look to leverage their existing property to secure additional financing.

Nicola Firth (pictured), CEO of Knowledge Bank, said: “The criteria searches we’re seeing reflect a population that is having to adapt to a rapidly changing financial economy.

“Whether it’s through new mortgage strategies or maximising investment opportunities, it’s clear that both brokers and their clients are having to think more creatively and act more strategically than ever before.”

There are 0 Comment(s)

You may also be interested in