ASTL

Bridging lending reaches record £4.62bn in Q2




Bridging loan books reached a record £4.62bn at the end of Q2 2019, according to the latest Association of Short Term Lenders (ASTL) figures.

This represented an increase of 14.4% on the same quarter last year, and growth of 11.7% compared with Q1 2019.

In the 12 months preceding the end of Q2 2019, bridging loan applications also hit a record total of £22.13bn, a 9.7% increase on the same period in the previous year.

Meanwhile, bridging loan completions increased to £1bn in Q2, up from the £898.5m recorded in Q1 2019.

“The second quarter of this year has delivered some very strong results for bridging lending, with record values both for applications over a 12-month period and total outstanding loan books,” said Benson Hersch, CEO at the ASTL (pictured above).

“In fact, nearly all measures were higher than last quarter and the same period in 2018.

“The wider political and economic environment remains uncertain and the challenge for the industry now is to continue this level of activity while maintaining high standards of underwriting and customer focus.”

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