The Association of Short Term Lenders’ (ASTL) latest sentiment survey revealed that this was an increase on the figure for June, when only 59% of bridging lenders expected their business to grow.
In addition, more than 75% of respondents were confident about the long-term prospects for the UK economy, compared with just 50% in the previous survey.
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Other highlights from the survey included:
- 52% of respondents expected the bridging market to grow in the next six months (June 2019: 23%)
- 55% identified the slow-moving property market as the biggest challenge for bridging lenders
- most lenders claimed that they would choose to leave the EU with Boris Johnson’s Brexit deal, whereas back in January, 75% of respondents said that they would vote to remain if there was a second referendum
Benson Hersch, CEO at the ASTL (pictured above), said: “Overall, our members are very positive about prospects for the UK, their own businesses and the bridging sector as a whole.
“Competition is expected to increase slightly in the next six months, but this seems to hold little concern for our members, and the downward slope in positivity has been reversed.”