Annual bridging lending completions rose by 24.6% to over £3.5bn in 2017, ASTL figures show.
Annual bridging lending completions rose by 24.6% to over £3.5bn in 2017, ASTL figures show.
Bridgingcompletions for ASTL membersin the fourth quarter of 2017exceeded £1bn, an increase of 31.7%.
Benson Hersch, chief executive of the ASTL said: “Our figures highlight that, despite ongoing concerns relating to Brexit and the property sector, the bridging finance industry remains in good shape and is ready and willing to meet the challenges that 2018 may bring.
“The bridging sector continues to provide a vital role in the economy by offering customers access to the capital they need in a responsible and sustainable way. It continues to be an important part of the alternative finance market.”
The size of members’ loan books is also healthy. Total loan books are continuing to climb, with a rise of 4.6% compared to Q3 2017. Compared to the end of Q4 2016, the value of loan books has risen by 12.9%, to £3.7bn.
These figures are taken from the responses from ASTL members, which include most of the key lenders in the bridging market.
