Covid-19 maximum loan-to-value restrictions was the most searched-for criteria by brokers in both the residential and buy-to-let sector in May, according to Knowledge Bank’s latest tracker.

In the residential market “Covid-19: furloughed workers” was the second most popular search term as brokers grappled with lenders’ changes to affordability rules.

Second charge brokers also focussed their searches on maximum LTVs and temporary restrictions to LTVs as a result of Covid.

In the equity release market each of the top five broker searches changed between April and May illustrating the wide range of borrowers considering later life mortgages.

Top equity release searches included: “married couple application in single name”, “flat roofs” and ‘lodger/boarder/rent a room”.

Knowledge Bank lender relationship manager Matthew Corker says: “The market is clearly going through a seismic change, with both lenders’ criteria and borrowers’ circumstances undergoing rapid shifts.

“As the ‘new normal’ begins to take shape, brokers are going to need to have their wits about them – and make use of all the tools they have available – to keep pace with the changes, and continue to provide their clients with the best possible service.”