Maximum LTV breaks into top five search terms in second charge and bridging – Knowledge Bank

Within the second charge, maximum age at end of term was the biggest search term, followed by mortgage or secured loan arrears or defaults.

Within the bridging sector, regulated bridging as well as maximum term and loan were among the top five criteria searches.

Lending to limited companies was the biggest search term within the buy-to-let sector, followed by first-time landlord and requirement to be a homeowner.

Within the residential sector, maximum age at end of term was the biggest search term, followed by self-employed with one year’s account and maximum age at application.

Nicola Firth, CEO of Knowledge Bank (pictured), said brokers were becoming increasingly aware that it was no longer about the borrower choosing the lender but the lender choosing the borrower.

She added: “When we’re out and about talking to brokers about Knowledge Bank we very often have conversations with advisers who have started an application for a product only to later find out that their client falls outside of a criteria condition.

“This is hugely frustrating for both broker and client as the search process has to start again, which means delays and disgruntled clients. Additionally, with ever increasing, and ever-changing, regulation it is crucial that brokers can defend their product selection when it is based on criteria restrictions and not price.”