This is according to mortgage broker search data gathered by the financial services provider L&G1, which revealed a significant jump in searches on behalf of borrowers with credit impairments between June and July 2021.
Searches on behalf of borrowers with satisfied payment defaults came within the top three most sought-after criteria, while searches for unsecured arrears and unsatisfied defaults made it into the top 15. Meanwhile, there was a 17% increase in demand for mortgages suitable for fixed-term contract workers and a 24% increase in searches on behalf of borrowers with bankruptcy.
Clare Beardmore, Head of Mortgage Transformation and Operations at Legal & General’s Mortgage Club, commented, “Amidst this backdrop of complex borrower needs, the role of advisers in helping clients to access competitive lending options has become ever more important and for homeowners across the UK, the need for guidance and support when it comes time to find a new mortgage is clear.
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