There were more applications from new brokers and strong demand in the North and South of England as well as in Glasgow and Edinburgh.
Specialist short-term property lender Amicus Property Finance lent £61m in November, citing continued confidence in the short-term property lending market.
There were more applications from new brokers and strong demand in the North and South of England as well as in Glasgow and Edinburgh.
The November figure included lending for the site purchase of an ambitious 162-bedroom luxury development in Newcastle, funding for the development of the iconic Manchester Hall in the centre of Manchester and purchase funding for the development of a PDR in Sutton Coldfield.
Keith Aldridge (pictured), managing director at Amicus Property Finance, said: “This is an indication the market remains buoyant and is a great start to our new Financial Year. We have seen an increase in the demand for short-term finance across the board and a particular appetite for development and refurbishment projects.
“The ASTL figures back this up, showing there has been no slowdown in the past 12 months – in fact, the lending figure has risen by 16.1% to £3.2 billion. With continued market growth expected in the coming years, the market for specialist short-term finance continues to be a good option where traditional sources are harder to access.
The firm, which has lent close to £1.5bn of short-term property loans since 2009, continues to see strong lending figures as it responds to increasing demand in the South East, Midlands and North of England, providing funding for professional landlords and developers seeking finance for residential and commercial real estate projects.
Aldridge added: “We build our most successful lending relationships through a collaborative approach with our brokers, solicitors and valuers – it is an approach that continues to deliver results and I am proud to lead the team that continues to deliver record figures for the business”.
