"Queries through the month focused on second properties and parents trying to help their children get on the housing ladder, as brokers rushed to assist buyers to make the most of the tax break."
Top broker queries in June included first-time landlords, buy-to-let and joint borrower sole proprietor mortgages, according to the latest data from Primis Mortgage Network.
Its product desk, which assists brokers in all key areas of the market, supported AR advisers with 2,275 queries in June, higher than the monthly average of 2,083 during 2020.
During June, brokers also searched for which lenders will lend on buy-to-let properties with a low EPC and retirement interest-only mortgages, alongside how long-term borrowing can be used to supplement income.
Toni Smith, chief operating officer at Primis, commented: “Considering the Stamp Duty Land Tax holiday deadline was 30th June, it’s no surprise that broker queries through the month focused on second properties and parents trying to help their children get on the housing ladder, as brokers rushed to assist buyers to make the most of the tax break.
“Recent uncertainty surrounding minimum EPC ratings for buy-to-let properties also explains the rise in queries of this nature. Brokers were looking for insight on whether lenders will lend on properties with low ratings and what the required changes to raise the EPC rating will be. This issue is a concern for many, and we’re pleased to be helping brokers support their landlord clients through the changing landscape.
“Alongside product desk enquiries, we also saw eight times more visits to our Virtual Experts landing page in June, which shows that brokers are turning to various channels on the PRIMIS site for support. I’m pleased to see our continued success in supporting brokers with client queries through unfamiliar times. As we begin to enter some form of normality in the UK, PRIMIS will continue to provide proactive support for brokers to enhance their business and assist clients going forwards.”