Data from its criteria search tool SmartrCriteria revealed mortgage enquiries on behalf of buyers with a visa represented the highest number of searches among advisers in 2020.

The Mortgage Club said rise in visa-related enquiries could be attributed to many factors including the weaker pound, the increased interest from Hong Kong-based buyers as well as the Brexit factor.

Later life lending

The second most ‘searched for’ criteria in 2020 was ‘maximum age’ in relation to late life lending, a trend Legal & General thinks could be have been driven by older borrowers, including potential downsizers, looking to benefit from the stamp duty holiday.

It said the tax had long been a barrier to so-called ‘last-time buyers’ who want to move into smaller, more manageable properties in later life.

First-time landlords and holiday lets

The third highest mortgage criteria search was on behalf of  prospective ‘first-time landlords’ – those buyers interested in taking their first step into buy-to-let.

Legal & General once again attributed this to the Stamp Duty Holiday – as budding landlords attempted to take advantage of the tax break – as well as the rise in holiday lets such as Airbnb, which was the fourth most searched mortgage criteria in 2020 by advisers.

Indeed, holiday lets rise ub popularity over the summer as people opted for UK ‘staycations’.  Legal & General Mortgage Club’s findings could indicate that many property investors were looking to purchase buy to let properties in response to this trend.

Finally, the fifth highest mortgage search in 2020 belonged to “expats who were not in the UK” suggesting that in addition to the searches for clients who had a visa, overseas buyers were also reacting to a number of factors which could include recent changes that come into effect in for Stamp Duty for non-UK buyers and the uncertainty facing expats and non UK-nationals post-Brexit.

Clare Beardmore, head of mortgage transformation and operations at Legal & General Mortgage Club, said: “Last year’s top searches also highlight that despite ongoing disruption caused by the pandemic, the mortgage market remains open to all types of borrowers.

“There are clearly options for many borrowers, whatever their circumstances and speaking to an independent mortgage adviser who can help borrowers to navigate the available products should be everyone’s first step.”