Bridging loan sizes rose by over £700,000 in the two months to October – up from £630,726 for the 12 month period, the West One Index has revealed.
Lending reached £3.2bn in 2015 with the help of average interest rates of 1.15% per month in the year to November.
Danny Waters, chief executive of Enterprise Finance, said: “From a broker’s perspective, 2015 has been another productive year for the short-term finance sector as demand for bridging loans continues to rise.
“Developers, businesses and individuals now view bridging as a trusted source of finance and know that where speed is an issue, the reliability of short-term finance can be the difference between a project getting off the ground or not.
“Intermediaries have been spoiled by some of the products and rates on offer this year, but headline rates aren’t the be-all and end-all and quality of service, speed and flexibility are all important considerations when deciding where to place a case.”
