Gavin Diamond's Blog
One interesting aspect of the current bridging market is that the arrangement all lenders had become accustomed to has been turned on its head.
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Responsible bridging lenders will only ever lend if the rationale for the loan is sound and the deal makes sense - both from the perspective of the borrower and lender.
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The report published last month by Defaqto that suggested bridgers might face tough times ahead as a result of mainstream lenders loosening their criteria caused something of a stir in the industry.
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Gavin Diamond is finance director at Cheval
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I was surprised to read the comments of prominent industry experts during the round-table discussion on short-term lending in the latest edition of Mortgage Introducer. The comments made me realise that there is still a lot of misunderstanding around about bridging and the way it works.
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The past 12 months have been pretty tough for bridging lenders - but they have marked a significant improvement on the poor business levels seen in 2009.
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