This helped drive a rise in the size of overall loan books with a 7.6% increase, reaching £9.01bn, exceeding £9bn for the first time, marking a 23.3% from Q3 2023.
BDLA data also showed applications had increased by 6.7% in Q3 to reach £10.9bn.
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Commenting on the results, Vic Jannels, CEO at the BDLA (pictured above), said: “BDLA lending data for the third quarter of 2024 reflects the ongoing ascendency of our sector, with growth across the board and record values for completions and loan book sizes.
“The continued momentum we’re reporting in our quarterly data demonstrates the growing importance of bridging and development lending as a vital cog in the UK mortgage industry.
“As more brokers and borrowers recognise the many ways that bridging finance can help them achieve their goals, we can reasonably expect our sector to continue its upward trajectory.
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