Credit adverse criteria climb search rankings: Knowledge Bank

New data from Knowledge Bank shows that two criteria searches featuring adverse credit conditions broke into the top five residential searches for the first time in January.

Specifically, the fourth most searched for term at the start of this year was ‘capital raising – debt consolidation’ and the fifth ‘defaults – unsatisfied’.

At number one was ‘self-employed – 1 years accounts’.

In the buy-to-let category, ‘lending to limited companies’ was the most searched for term for the third month in a row, which Knowledge Bank reports as confirming the widely held idea that the sector is becoming more professional.

Meanwhile, under equity release, searches for ‘early repayment charges’ came in at number one, and ‘capital raising to purchase a BTL entered the top five for the first time, at number five. ‘Booking application and processing fees’ was the fourth most looked-for term.

‘Maximum LTV’ was the most searched term under the self-build, bridging, and overseas categories, while ‘commercial owner occupier’ came in at number one for the commercial sector.

In the second charge category, ‘maximum loan amount’ came out on top.

Knowledge Bank chief executive Nicola Firth (pictured) says: “2019 has started with a flurry of activity both in terms of broker activity and criteria changes.

“There are a vast amount of changes and updates happening every day and feedback from brokers reveals that they are now performing multiple searches prior to each application.

“One broker revealed that he performs a quick criteria search before every update with a customer to ensure that nothing has changed since he last spoke with them – even if it was just the day before.

This pace of change creates a vibrant lending landscape but really puts the pressure on brokers to ensure that they are basing their advice and recommendations on the latest possible information.”


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