Knowledge Bank has revealed the top five most searched-for lender criteria by brokers in June 2019, with searches for lenders accepting first-time landlords revealed as the most popular search of UK criteria.
Tthe monthly criteria activity tracker showed that the maximum age borrowers could be at the end of the mortgage term was the most searched-for criteria in the residential mortgage category.
Other search highlights reveal that the maximum loan to value continues to be the most popular search for second charge loans and the minimum age of borrowers at application the most searched for criteria within equity release.
Knowledge Bank holds over 90,000 criteria from over 200 lenders and brokers can search on unlimited criteria conditions for each customer.
Nicola Firth, CEO of Knowledge Bank said, “The buy-to-let sector has taken a few punches over recent years with the removal of tax incentives, the ability to charge fees and even lenders going into administration.
“However, this is a resilient market and with competitive interest rates, and a wide product selection, potential landlords are asking brokers to find them a home for their loan requirements.
“Buy-to-let is another example of a sector where criteria changes are made on a daily basis so it’s vital for brokers to whittle down the lenders who will consider their clients in advance of any product sourcing.
“There’s no point finding a great product only to discover that your client is refused on criteria.”