The growth last year will influence the bridging market in 2017
By: Emma Gettings
Despite Brexit, 2016 was a successful year for many property lenders within the bridging loans industry, by being flexible focusing on new areas of financing and having the right resources in place. 2017 is predicted to be just as much of a success.
Brexit did not affect financial loans quite as badly as predicted for most, although a number of bridging lenders stopped taking on new business due to a lack of funding at the time. Those lenders that will profit and grow in 2017 will be those able to respond to changing conditions which demand ever faster response times and individual underwriting procedures.
Interest rates will also remain under pressure from brokers, providing an edge for the well-funded bridging loan companies. We will also see a growing demand for bridging loan periods beyond 12 months and development finance, which needs a special set of skills that not all lenders may have.
Source: Bridging and commerical