Cost-of-living concerns continue to dominate brokers searches as ‘maximum age at end of term’ topped residential enquiries in September, data from Knowledge Bank shows.  

The criteria search engine says the move “underscores the industry’s caution around lending to older individuals, with possible concerns about repayment affordability as applicants get closer to retirement”.  

‘Joint borrower, sole proprietor’ searches have surged in the residential sector over the past three months, taking fifth spot in September.  

The business adds: “This trend indicates that brokers are still looking for creative solutions to handle mortgage affordability in the current economy.   

“The addition of a partner or family member can benefit an application if one has a low income, a poor credit history, or perhaps simply for tax efficiency.”  

In the buy-to-let sector, ‘lending to limited companies’ remained the top search, which has been a consistent trend throughout the year.   

“This is no surprise as portfolio landlords will continue to structure purchases through a corporate entity while it presents tax advantages and more favourable mortgage options,” the firm points out.  

In the second charge sector, the focus is on maximising borrowing, with ‘maximum LTV’ consistently ranking as the top search term.

The company says: “This suggests that people are looking to leverage their existing property to secure additional financing, possibly as a means to manage other financial obligations or debts.”  

Commercial property searches reveal a focus on both ‘Minimum Loan Amount’, in top spot, and ‘Maximum LTV,’ in fifth place, indicating that developers are keen to maximise their property investments.   

The business adds: “This dual focus suggests a market that is both cautious and opportunistic, as investors look to navigate a complex financial landscape.”  

Knowledge Bank chief executive Nicola Firth says: “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.”