Bridging lending down 6.6% in Q2 2018
ASTL

Bridging lending down 6.6% in Q2 2018




The value of bridging loans written by the Association of Short Term Lenders' (ASTL) bridging lender members has fallen by 6.6% in Q2 2018, compared with the previous quarter.

The value of loans written in Q2 2018 has increased by 10.3% on Q2 2017.

Figures from ASTL have revealed that annual completions have risen by 27.2% compared with the year ended 30th June 2017 and now stands at £3.87bn.

B&C announced ASTL’s Q1 2018 results in May, which reported that annual completions were close to £3.8bn.

In the latest results for Q2 2018, the total value of loans books has fallen slightly compared with Q2 2017, but is still over £4.2bn.

“Although figures for Q2 2018 are down on the two previous quarters, they remain high,” said Benson Hersch, CEO at the ASTL (pictured above).

“Our members continue to provide flexible and useful services to customers who require finance.

“The property market may be difficult at the moment, but responsible bridging lenders continue to prosper.”

 

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