An analysis of the latest Knowledge Bank tracker results showed that many borrowers have recently started new jobs or changed roles.
Matthew Corker, operations director at Knowledge Bank explained that brokers’ searches are indicative of the returning jobs market.
“There appears to be confidence returning to the jobs market, and people feel confident enough to change roles. Some are moving sectors completely, perhaps as a result of the pandemic, and brokers are working with numerous clients who are new to a role,” Corker said.
‘Time in employment’ was also the top search by brokers in the residential market in October.
Read more: Knowledge Bank: Top search ‘time in employment’.
Brokers were also searching for ‘missed or late payments’ and ‘defaults – registered in the last three years’ in the residential market.
In the second charge sector, there were some positives as brokers searched for ‘capital raising – purchase a buy-to-let’.
The rental market also continues to be of interest to new investors and, as a result, ‘first-time landlord’ and ‘first-time buyer’ both featured prominently in brokers’ searches in the buy-to-let arena.
‘Regulated bridging’ continues to dominate searches in the bridging sector, with February marking the fourth consecutive month it was the most-searched term.
“Interest in bridging loans grew significantly in 2021, and the start of 2022 has seen attention in commercial property bridging loans increasing. These may be for buying commercial units, similarly to a residential bridge, when a chain breaks. Or for refurbishments – then either selling or refinancing on to a conventional commercial mortgage,” Corker said.
“The lending landscape has been evolving rapidly recently. The buy-to-let market, in particular, has been volatile, and, with the Bank of England increasing base rate, lenders will certainly continue to adapt. With this trend certain to continue, brokers need to ensure they are using a criteria search system so they stay up-to-date with all the latest changes.”
