This was across four of the seven tracked mortgage sectors – residential, buy-to-let, second-charge and bridging.
In the residential category, the top three searches in April were all Covid-19-related with brokers also searching for ‘Internal / AVM / Desktop Valuations’, which also came in at number two in the buy-to-let category, and ‘Covid-19: Furloughed Workers’.
In the equity release category, ‘Minimum Age at Application’ topped the list of broker searches – whereas in February, it had been ‘Maximum Age’ that had attracted most searches. This possibly reflects working-age people wishing to access some of the value they have tied up in their property to top up their day-to-day finances.
Searches for ‘Add Fees to Loan’ came in as another new entrant at number three on the equity release list, indicating that people are looking to maximise the upfront cash they can extract.
Matthew Corker, Knowledge Bank’s lender relationship manager, commented: “With lenders across the board cutting back sharply on loan-to-value, and in some cases temporarily withdrawing from the market, brokers are working harder than ever to keep track of an ever-changing landscape and get the best deals for their clients.”
Criteria Activity Tracker
Top five searches performed by brokers on Knowledge Bank during April 2020
| RESIDENTIAL | BUY-TO-LET | SECOND CHARGES | EQUITY RELEASE | |
| 1 | Covid-19: Temporary Maximum LTV Restrictions | Covid-19: Temporary Maximum LTV Restrictions | Covid-19: Temporary Maximum LTV Restrictions | Minimum Age at Application |
| 2 | Internal / AVM / Desktop Valuations | Internal / AVM / Desktop Valuations | Maximum LTV / Loan to Value | Second Home / Property |
| 3 | Covid-19: Furloughed Workers | Lending to Limited Companies | Minimum Loan Amount | Add Fees to Loan |
| 4 | Maximum Age at End of Term | Minimum Income – Interest Only / Part and Part Single Applicant | Capital Raising – Purchase a Buy to Let | Maximum LTV |
| 5 | Help to Buy Equity Loan Scheme | Requirement to be a Homeowner | Capital Raising for Debt Consolidation | Early Repayment Charges |
| SELF-BUILD | BRIDGING | COMMERCIAL | |
| 1 | Maximum LTC – Loan to Cost | Covid-19: Temporary Maximum LTV Restrictions | Maximum LTV for Commercial Investment |
| 2 | Custom Build – Maximum Loan to Cost | Regulated Bridging | Maximum LTV / Loan to Value |
| 3 | Capital Raising for Purchase of Land | Minimum Loan amount | Semi-Commercial Properties |
| 4 | Custom Build – Maximum Borrowing / Loan Amount | Minimum Property Value | Commercial Investment Mortgages |
| 5 | Maximum LTV / Loan to Value | Maximum LTV for Bridging | Minimum Loan Amount |
