Bridging lending continues to surpass last year

Mortgage Introducer

August 17, 2018

The value of bridging lending increased by 10.3% in the second quarter of 2018 compared to the same quarter last year, Association of Short Term Lenders figures show.

Despite the increase the value of completions were 6.6% lower than in Q1 2018.

Benson Hersch (pictured), chief executive of the ASTL, said: “Although figures for Q2 2018 are down on the two previous quarters, they remain high.

“Our members continue to provide flexible and useful services to customers who require finance.

“The property market may be difficult at the moment, but responsible bridging lenders continue to prosper.”

Annually to the second quarter of 2018 completions have risen by 27.2% compared to the year before.

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