Bridging lenders are becoming increasingly confident about the sector’s prospects despite the recent triggering of Article 50, Association of Short Term Lenders research has found.
As it stands 85% of ASTL lenders expect their own volumes to increase in the next six months, while 56% expect the bridging market as a whole to increase.
Regarding the future prospects of the UK economy 45% are confident, up from 35% in November and 28% last April before the EU referendum took place.
Among other members one in five (21%) were not confident about the UK’s prospects in the next 12 months, down from two thirds (67%) immediately after the referendum.
Benson Hersch, chief executive of the ASTL, said: “Good results in Q1 of 2017 have caused lenders to be more positive about the future.
“The ASTL should continue to grow in both numbers and influence as recognition of the sector spreads. Bridging finance has come a long way and, whilst there will no doubt be ups and downs, it’s here to stay.”