Bridge lending figures are on the rise in the UK
By: Emma Gettings
Bridging loan companies continue to generate business as bridging lending continues to grow, in terms of value and amount of bridging loans lent.
Bridging trends data ASTL states, the value of loan applications increased from £4.3 billion to £5.3 billion (23%) each year and will continue to rise. These figures are only a rough guide to applications made to several lenders in 2016.
Short term loans remain to be a beneficial financial tool due to mainstream lenders falling behind demand even though mortgage lending figures are on the increase.
Property prices and sales volumes are increasing, as investors illustrate renewed confidence. There is, however, a threat of demand in some areas of the South East, as buyers scramble for residential property. The economic climate definitely seems to be improving, but it is too early to be confident that the improvement is sustainable.