Knowledge Bank has recorded more than 5,200 criteria changes in October as lenders continued to adapt to affordability pressures, with brokers conducting over 91,000 searches on the platform.
While the number of updates fell from September’s 8,326, the data still reflects a fast-moving market, with lenders adding 2,671 new criteria to maintain up-to-date accuracy.
The most-searched term among brokers was “Maximum age at end of term,” which rose from eighth place in September, signalling an ongoing focus on affordability challenges.
Another major area of activity was “Self-employed – 1 year’s accounts,” which jumped from 46th to 17th, underlining growing demand from self-employed borrowers and those with non-traditional income.
Affordability policies also saw considerable change, with 12 residential lenders updating their “Maximum incomes used” field.
The recent launch of Knowledge Bank’s new AffCalc tool, designed to assess affordability for up to four applicants, has helped brokers navigate these more complex cases.
Even niche areas such as “Tronc payments” saw updates from 20 lenders, highlighting the industry’s continued refinement of real-world income assessment.
Sales director Shane Chawatama said: “It’s going to be intriguing to see how the next few months unfold.
“There’s still a significant number of borrowers needing to come off fixed deals. While lenders are making positive moves by lowering rates and increasing LTVs, it doesn’t yet feel like enough to reignite the remortgage market.
“The upcoming Budget may influence some decisions, but it won’t be the silver bullet many customers might be hoping for.”
Knowledge Bank’s October trends underline that in a rate-driven environment, criteria remain key, with brokers increasingly relying on search tools to place cases efficiently and find solutions for borrowers facing affordability constraints.
