Nicola Firth

Minimum loan amount takes top spot in bridging category




Minimum loan amount was the most searched for criteria in the bridging category in Knowledge Bank’s most recent criteria activity index for October, having not been in the top five in the previous month’s rankings.

In the commercial category, mixed-use properties/part commercial has entered the top five, while semi-commercial properties has retained the top spot.

First-time landlords has returned to the top of the BTL category for the first time since July, while lending to limited companies — which was the most searched for criteria in the previous month — has dropped to second.

Knowledge Bank

Knowledge Bank

Nicola Firth, CEO at Knowledge Bank (pictured above), said: “…There was more change in the bridging sector with searches for regulated bridging losing the top spot it had held for the past two months to searches for the minimum loan amount.

“Additionally, in the commercial sector, we saw searches for mixed-use properties, ie part commercial, enter the top five searches for the first time.

“Within the BTL sector brokers have been looking for lenders who would consider first-time landlords, making this the most popular search performed during the entire month, the first time this has happened since July.”

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