ASTL members exceed £3.5bn of bridging lending

Annual completions from members of the Association of Short Term Lenders (ASTL) have increased by 24.6% to more than £3.5bn, according to the latest figures.

Data for Q4 2017 revealed that the value of loans written for the quarter ending 31st December 2017 by ASTL members increased by 19.6% compared with Q3 2017.

The value of loans written in Q4 2017 was also up 31.7% compared with the same period in 2016.

The size of ASTL members’ loan books grew 4.6% compared with Q3 2017 and by 12.9% to £3.7bn compared with Q4 2016.

However, the pace of increases in applications continued to fall compared with Q3 2017.

Despite this, the research found that figures on an annualised basis increased by 42.6% on the year ended December 2016, totalling £18.93bn.

“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,” said Benson Hersch, CEO at the ASTL.

“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.” 

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