43% of bridging lenders positive about UK's long-term prospects

However, the latest sentiment survey from the Association of Short Term Lenders (ASTL) has revealed that its members are slightly less positive about the long-term, future prospects of the UK economy.

Some 43% of members claimed to be positive in this survey, down from the 45% reported in March, but up on the 35% recorded in January and the 6% figure registered after the EU referendum.

More than half (55%) of members claimed they felt less positive directly as a result of the general election, with 34% now saying that they are not confident about the prospects for the UK over the next 12 months.

This is up from March (21%), but significantly less than the 67% recorded post-EU referendum.

Lenders remain positive about the prospects for their own business as 70% feel that their volumes will grow over the next six months.

Benson Hersch, CEO of the ASTL, said: “While there is understandable caution about future prospects, the sector will continue to grow.

“While there are signs that the rate of past growth in prices in the residential property sector will not continue, this should not inhibit the long-term growth of bridging as more and more people realise that the flexibility it offers provides a useful source of short-term funding.”