Bridging increases by 32%

Bridging increases by 32%




The value of written bridging loans has increased by 32% in the last year, according to the Association of Short Term Lenders….

The value of written bridging loans has increased by 32% in the last year, according to the Association of Short Term Lenders…

Figures showed that £2.4bn worth of loans were written by ASTL members in the 12 months to the end of June and the overall loan book increased by 39%.

Benson Hersch, Chief Executive of the ASTL, said: “The figures highlight how bridging lending has established itself as an increasingly valued source of finance and, as a result, has grown in prominence considerably outstripping the mainstream market.”

“Nearly all our members predict that volumes will continue to increase over the next six months and expect to deal with any issues relating to the implementation of the MCD.”

The value of applications increased by 34% in the quarter ending June 2015 in comparison to the same time last year.

The figures, taken from responses of ASTL members, also showed an 8% increase in the overall loan book compared with March this year.

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