This is according to Legal & General Mortgage Club, which published data revealing an 18%  increase since the beginning of September in overall searches from brokers using the criteria search combination of ‘first-time buyer’, ‘first-time landlord’ and ‘non-owner occupier’.

The ‘sharp rise’ in first-time buyers keen to enter the buy-to-let market coincides with a rising demand for properties in general.

Indeed, Kevin Roberts, director of Legal & General Mortgage Club said: “Despite the impact of coronavirus, we are seeing rising demand across the housing market with buy-to-let in particular enjoying a mini-boom.

“Our latest findings from SmartrCriteria suggest a growing number of first-time buyers are searching for mortgages for buy-to-let ventures, including those engaging with the growing trend towards staycations this year.”

Expat mortgages

Searches through the tool, which helps advisers determine quickly which lenders would consider a particular mortgage applicant, also revealed how ‘holiday lets’ such as Airbnb ventures, was the second most searched-for term amongst advisers in September. It moved down a notch from the top spot in August.

SmartrCriteria figures also revealed a jump in the number of advisers searching for products on behalf of expats.

Search criteria for ‘Expat not in UK’ increased by 50% since the beginning of September, with the majority of searches looking for buy-to-let mortgages.

These search criteria findings reveal continued interest from foreign buyers, which have been increasing over the past several months, as overseas buyers look to benefit from the current Stamp Duty holiday which ends on 31 March 2021.

Legal & General Mortgage Club said its criteria search tool surpassed 7,000 registrations this week. The uptick in activity corresponds with growing demand from consumers who have been keen to push forward with their housing plans since the housing market reopened after lockdown.

Roberts added: “Amidst this continued high demand we are seeing in the mortgage market, thousands of borrowers are clearly turning to independent advisers to help them with their plans and these experts are playing a vital role for consumers.

“There have been thousands of criteria changes since the lockdown and mortgage advisers are supporting seasoned property investors, first-time landlords and other buyers to find lenders and products that meet their needs.”