Advisors seek to support furloughed workers

The new mortgage tracker report by Knowledge Bank shows that “furloughed workers” ranks among the top criteria searches made by advisors during the past month.

The report indicates that the reason why the term is featuring so heavily in advisor searches is because they are attempting to find loans suitable for those who are hoping to buy a home but have been put on furlough due to the COVID-19 pandemic.

“Furloughed workers” was the search term that cropped up with the second highest frequency during the past month, suggesting that helping people in this position to find a deal that works for them is one of the top priorities for many mortgage advisors at the moment. This shows just how many people have been placed on furlough due to the pandemic and that it has not reduced their desire to buy property.

Other search terms that ranked high on the list according to the Knowledge Bank tracker were also COVID-19 related. “Help to Buy equity loan scheme” came third, in all probability due to prospective buyers attempting to purchase homes while this temporary government scheme remains in force.

Speaking to Mortgage Strategy, the lender relationship manager at Knowledge Bank, Matthew Corker, said:

“With the furlough scheme back, discussions around an extension to the stamp duty holiday and record numbers of mortgage approvals, the property sector continues to move at a rapid pace.”

The CeMAP training courses undertaken by advisors give them the skills and knowledge to find mortgages for clients in varied financial situations.


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