ASTL members lend £2bn
In Q3 2014 the value of ASTL members loan books increased by 15.3% compared to Q2.
This increased to 49.8% when compared to the same quarter last year.
Benson Hersch, chief executive of the ASTL, said: “This was yet another bumper quarter for our members, who have written £1.98bn worth of loans in the past year.
“Bridging continues to play an important role in the alternative finance market, and our members provide a responsible and reliable service for both SMEs and homeowners.
“Members are positive about the prospects for the current quarter and the year ahead.”
The number of loans issued increased by 18.2% in the third quarter of 2014 compared to the one before, while volumes also rose by 7% compared to the third quarter of 2013.
This contrasts with data from Q1 to Q2 2014, when loan volumes decreased by 19%, yet it stands well below the 83% quarter-on-quarter increase between the Q4 2013 and Q1 2014.
The value of the average application has increased by 11.6% in Q3 2014 compared to Q2.