ASTL loans rise by a third
In the year to July £2.44bn of loans were written by ASTL members, while the value of loan books rose by 39% year-on-year and by 8% from the month before in March 2015.
Benson Hersch, chief executive of the ASTL, said: “The figures highlight how bridging lending has established itself as an increasingly valued source of finance and, as a result, has grown in prominence considerably outstripping the mainstream market.
“The post-election outlook for this year is a positive one. Nearly all our members predict that volumes will continue to increase over the next six months and expect to deal with any issues relating to the implementation of the MCD.”
Demand for bridging loans looks set to continue, as the value of applications increased by 34% in the second quarter of 2015 compared to the same period of 2014.