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Brokers demand longer term bridging loans

Ryan Fowler

March 17, 2014

The second annual survey, targeting a specialist pool of 300 brokers, showed that 50% of brokers would prefer longer periods despite 12 month loan terms now being the standard.

And 92% expect 2014 levels of business to be greater than 2013.

Keith Aldridge, managing director of Capital Bridging, said: “We have a growing reputation for being a sector leader in seeking feedback from the market, including our solicitor and valuer partners, but it is how we react to the feedback that will determine how the business grows in the face of strong competition.”

The speed of clients solicitors most frustrated the broker fraternity, with 73% being dissatisfied with this aspect of the process compared to 60% in 2013.

Darren Baker of Peritus Private Finance said: “Capital Bridging certainly listen and whilst we know they cannot be all things to all brokers we know they try to be, where possible. We look forward to the new range of solutions we believe they will bring to the market as a result of this vital piece of field research.”

In January 2013 one of the outcomes of the first survey was a demand for longer period short-term loans, as in 2012 half of brokers recorded had a regular loan length of six months.

Aldridge added: “We will be using the feedback from these specialists to improve the broker experience with Capital Bridging, to extend our product offering and to help support our membership with the ASTL.

“Capital Bridging will be making some significant announcements in the months ahead and a great deal of what we will be saying will be in response to those who took the time to complete the survey.”


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