Bridging application values increased by 97% from the fourth quarter of 2013 to the fourth quarter of 2014, figures from the Association of Short Term Lenders have revealed.
In the whole of 2014 the value of bridging loans increased by 62.5% from the year before, with ASTL members’ writing £2.27bn worth of loans.
Benson Hersch, chief executive of the ASTL, said: “Members of the ASTL and the bridging industry as a whole did well in 2014 and the outlook for 2015 is positive, although political uncertainty may cause a bumpier ride.
Bridging lenders have developed over the last 5 years, and they are now sophisticated and institutionalised. The vast majority are funded by some of the leading finacial institutions in the world. As a result, the industry has become more competitive, which is great news for the borrower, and they can also expect full transparency from the lenders.
Please get in touch with our bridging experts on email@example.com or call 0207 206 2500 to speak to one of the team. Vision Finance work with every active and relevant bridging loan lender, and we work tirelessly to ensure our clients have obtained the best rates.