A survey of 200 brokers by InterBay Commercial revealed that 70% believed that the demand for bridging had increased in the last year, while just 8% said they thought demand had declined.

The majority of brokers also expected demand for bridging to grow over the next 12 months with 62% predicting a rise.

When asked about the reasons for taking on a bridging application, 65% of brokers cited the fact that such deals often involved higher fees and, therefore, presented an opportunity to earn additional income.

Meanwhile, 67.5% of brokers highlighted that lenders had increased the variety of bridging products that they had on offer.

•   InterBay appoints new senior BDM
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•   Annual bridging completions reach £3.98bn

“With the continuing political uncertainty around Brexit, activity in the property market is sluggish and impacting on sales,” said Darrell Walker, head of sales at InterBay Commercial (pictured above).

“Brokers, therefore, need to be able to provide their clients, particularly investors, with fast and flexible options to finance their next project so they can make the most of higher-yielding alternatives, such as HMOs.

“As the demand increases for specialist finance products, brokers should make sure they are informed.

“This requires more education around the options lenders offer and the speed at which the solution can be secured.”

Earlier this month, InterBay appointed Matthew Taylor as a senior BDM.