NAFCB lending increases across the board
Commercial mortgages saw the biggest level of growth, as funding climbed by 54.9% from £2.23bn in 2014 to £3.45bn in 2015.
Buy-to-let finance increased by 10.1% to £3.53bn, development finance rose by 3.2% to £1.22bn and bridging increased by 1.2% to £727m.
Other growth areas were leasing & asset finance (47.7% to £4.02bn), invoice finance (43.8% to £947,000), vehicle finance (49% £1.24bn) and new types of finance (35.9% to £848,000)
Adam Tyler, chief executive of NACFB, said: “Whilst we have seen a steady increase in lending throughout the last 12 months this year’s survey has provided us with expected results, but with a swing towards traditional lending such as commercial mortgages and asset finance.”
“The market continues to diversify at an incredible rate and we continue to attract high numbers of new and established lenders who see our brokers as the best and busiest in the industry. This survey data, and the written and verbal feedback we have been getting from our 1500-strong membership, certainly backs up that perception.”
“Recent developments such as the acquisition of 140 new brokers from our patrons at Hitachi Capital, coupled with our findSMEfinance website’s inclusion on the final shortlist for the government’s Bank Referral Scheme, are all helping to keep finance flowing through the best channels to the SMEs who need it the most.”