Bridging lending surpasses £3bn as applications surge

Ryan Bembridge

August 17, 2017

Annual bridging lending from Association of Short Term Lenders members has surpassed the £3bn mark after applications surged by nearly 57%.

Members lent £3bn in the year to June 2017, up from £2.8bn the year before, with the help of application numbers surging by 56.6% year-on-year.

ASTL members completed £875m of lending in the second quarter alone, 12.1% more than Q1 and 17.8% more than Q2 2016.

Benson Hersch, chief executive of the ASTL, said: “The increase in positivity shown by members in a recent sentiment survey seems to be reflected in the latest figures.

“It remains to be seen how the ebb and flow of Brexit negotiations will affect the sector, but the market remains good for the time being.

“Barring unexpected jolts to the economy, I expect a period of consolidation ahead, especially with the increasing likelihood of interest rate rises.”

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