ASTL members report bridging growth

The value of bridging loans written in Q3 2017 has increased 38.9% compared with the same period last year, according to the latest research.

The Association of Short Term Lenders (ASTL) has revealed that the total value of bridging lenders’ loan books also rose by 8.3%, compared with Q2 2017, and 27.7%, compared with Q3 2016, to £3.5bn.

Applications to bridging lenders grew by 45.5% in Q3 2017, compared with Q3 2016, but fell 0.7% compared with Q2 2017.

Benson Hersch, CEO of the ASTL, said: “The figures from our members show that the bridging finance industry is in excellent shape.

“It shows that the industry has remained resilient despite the threat of Brexit and low growth in the economy.

“The figures also demonstrate that bridging loans remain an excellent alternative where traditional financing is not immediately available for customers.

“The bridging sector, therefore, continues to provide a vital role in the economy by offering customers access to the capital they need in a responsible and sustainable way.”

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