The survey was conducted in April this year and reveals 95% of respondents said they would use bridging finance again.

The most commonly cited reasons for using a broker were for advice and guidance, getting the best deal in the marketplace, speed and efficiency, and the broker's understanding of a borrower's needs and circumstances.

However, those who opted for a direct lender typically did so due to recommendation, the perception that the application process is faster, direct communication, and avoiding broker fees.

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Stephen Clark, co-founder of Finbri, said: “Brokers are an invaluable source of help for borrowers seeking bridging finance.

“With a number of new lenders entering the market, while others are exiting — plus product changes and lending criteria in constant flux — a good broker can make all the difference to securing the borrower finance, especially where speed is critical, and the deal is anything other than vanilla.

“The better brokers will be in hot demand in the coming year as borrowers find securing their bridging finance more challenging.”