The National Association of Commercial Finance Brokers (NACFB) released survey results showing bridging to be up by 180 per cent – a growth that industry figures are delighted about.

The survey, along with showing the above statistic, highlighted growth in other areas of the market. It showed a 103 per cent rise in development finance, a 14 per cent rise in total commercial lending to SMEs, a 46 per cent rise in buy-to-let lending and a total of £2.8 billion of business written in the short term and development lending by NACFB members.

The response garnered from some prominent figures in the market has been very positive. James Bloom, CEO of Regentsmead, the development finance lender, commented: “The NACFB survey highlights a fairly mixed bag of results. We have seen very strong increases in short term lending, which is positive. There is definitely a strong increase in demand, however it is concerning to see some stagnant growth in some areas of the market.

“It is good to see that some sectors are increasing substantially but overall we are off the peak we used to be at. I think generally the survey shows positive results. These figures reflect a strong increase in demand. We have seen business double over the past 12 months and I think that we are fairly indicative of the market. The increase has gone to more specialist lenders like us – we have seen a very strong increase over the past year.”

Alan Margolis, Head of Bridging at United Trust Bank, said: “Looking at the figures, it is plain to see there has been a significant increase in bridging lending and there is no question that the bridging market is very active. We are very busy at the moment and the results of this survey are similar to the mood music that has been playing throughout the sector recently.

“You would think that, of the total estimated £2.8 billion in the bridging and development lending market, the bridging proportion is becoming more significant, though it will still be modest proportion of the total.

“It is very pleasing to see that the market is moving in the right direction and it is another indication that many people in the industry are becoming busier. The signs are there to tell us that bridging is in rude health at the moment and the market is buoyant.”

Richard Deacon, Sales and Marketing Director at Masthaven Finance Ltd, said: “The results of the survey are brilliant. Looking at the figures, I imagine that the biggest increase is within the development side, but of course within that is bridging.

“We won the NACFB short term lender of the year last year and we have definitely seen an increase in business from NACFB members as a result. We support the NACFB tremendously, and part of the reason we do that is because they do produce figures. It is interesting that commercial mortgages have remained rather stagnant but I will be intrigued to see how what happens in 2012 particularly with the changes in the market, including WLB buying up Link Loans.”