Association of Short Term Lenders members wrote £2.59bn of business in 2015 – a 13.8% increase on 2014.
Association of Short Term Lenders members wrote £2.59bn of business in 2015 – a 13.8% increase on 2014.
Although completions increased at double the speed of the mainstream mortgage market the pace of growth slowed in 2015, as fewer completions were made in Q4 from Q3.
Benson Hersch, chief executive of the ASTL, said: “Bridging finance continues to outstrip the main mortgage market as more brokers and borrowers turn to bridging loans. Members are recording increased business volumes and it is therefore little surprise that the bridging industry has become such an integral part of the mortgage funding market.
“It will certainly be interesting to see whether or not the decline in loan applications at the end of last year will have an impact on the bridging market in the coming months. Either way, sentiment remains highly positive and the final figures for 2015 in terms of loans written and the loan book value show strong demand for bridging loans.”
