Lending rules searches reveal tighter household budgets … – Mortgage Finance Gazette
Knowledge Bank’s monthly criteria index revealed a host of changes in broker’s top five criteria searches, pointing to tighter household budgets, as they try to place client’s cases with lenders.
In the residential category, brokers searching for lenders who accept ‘late or missed payments’ was the second most popular search, while the ‘interest-only’ searches were in third place, back in the top five after a month’s absence.
The search engine firm says: “The popularity of these two searches suggests that the tightening of household budgets is continuing, and standard residential borrowers’ circumstances are changing and not for the better.”
Searches in the equity release category after a clean sweep of changes last month were more settled in April, although the search for the ‘remaining term of a leasehold’ and ‘early repayment fees’ both rose in popularity during the month to second and third spots, respectively.
The firm points out: “This suggests that we are still in a period of…
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source: https://news.oneseocompany.com/2023/05/04/lending-rules-searches-reveal-tighter-household-budgets-mortgage-finance-gazette_2023050444447.html
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