Q1 Bridging lending up 1.4pc

Robyn Hall

June 3, 2013

The trade body also revealed that £1.113bn worth of applications were made during the quarter and that the industry’s total loan book now stands at £1.102 bn.

Benson Hersch, chief executive of the ASTL, said: “The figures reflect the steady increase I expected revealing the ongoing need for bridging finance.

“This has not decreased, despite pressure by government and promises by mainstream banks to lend more, as a result, short term loans are filling the gaps in many instances.

“After a significant rise at the end of last year the current quarter has seen steady demand and I expect the next quarter’s figures to continue to show a slow but steady improvement.”

ASTL short term lending figures, representing the lending of all of its members, are produced and published quarterly.

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