ASTL reveals 23pc increase in bridging loan apps

Robyn Hall

February 20, 2013

The figures show steady growth for this important sector of the property finance industry.

Applications were received for £1.313 billion, up over 23% from the previous quarter, while astl members advanced £283million worth of loans, a rise of 6.8%. The loan books at the end of the period totalled £1.054 billion, an increase of over 8%.

Benson Hersch, chief executive of the astl said: “The figures released today are significant. They reflect the increased demand I expected and; despite some increased bank lending and the effect of the Funding for Lending Scheme, there is still a need for bridging finance.

“The current quarter has seen steady demand and I expect the next quarter’s figures, which will be published before the end of May, to continue to show a steady increase.”

ASTL short term lending figures represent the lending of all of its members; they are produced and published quarterly.

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