The club’s SmartrCriteria tool clocked a record number of searches overall in March with volumes jumping by 17% compared to the previous month.

However, the proportion of searches for borrowers with complications in their financial history showed a significant rise with SmartrCriteria tracking a 40% increase in searches for lenders willing to consider borrowers with previous repayment defaults.

There was also a big uplift in searches for borrowers with furloughed income or multi-stream income – a reflection of how the pandemic is continuing to hit borrowers’ personal finances.

Indeed, the 17% rise in searches overall echoed HMRC’s latest property transaction data, which showed sales had double year-on-year in March.

SmartrCriteria’s most searched criteria point last month related to mortgages suited to borrowers with a satisfied default, indicating that many borrowers have retrospectively settled missed payments recently. These searches increased by over 40% between February and March whilst searches for borrowers with outstanding missed payments (unsatisfied defaults) also jumped by 28%.

The tool revealed furlough-friendly mortgages was advisers’ second most searched criteria point in March. Furthermore, searches for applicants with a second job increased by 51% last month, a further indication of financial strain on customers.

Clare Beardmore, head of mortgage transformation and operations at Legal & General Mortgage Club, said: “While it is clear that various government incentives are driving many to push ahead with their homeownership plans, the rising number of searches for lenders who will accept applicants with credit impairments and multiple income streams shows that the economic impact of the crisis continues to be felt by many.

“While activity in the housing market may be high, advisers are increasingly needing powerful tools to help them progress complex cases.

“Our sourcing technology continues to be an ally to intermediaries, helping them match clients with lenders no matter their borrowing needs. We remain committed to introducing further improvements to the proposition and look forward to delivering additional product enhancements to help intermediaries through this current busy period and beyond.”