Bridging booms as mortgage market collapses

Bridging booms as mortgage market collapses


It has been reported that last month saw a marked increase in bridging business as borrowers, unable to find quick or competitive loans elsewhere, turned to the bridging market for support. 

Bridging loan company Tiuta secured 0.05% of the total mortgage market in December, as product variants were slashed.


Whilst the number of mortgage products available dwindles, the bridging market has been increasing in variety of products to cater for those buyers who have to act quickly, either at an auction or estate agent, where a quick turnaround is required.


Chief executive of Tiuta, Gary Booth commented: “Contrary to what the papers say, there is demand to buy property. However, mainstream lenders are not working with the property market as it is operating at the moment. There are competitively and realistically priced properties available, but often the sellers want to move quickly and, sadly, most lenders are unable, or unwilling, to do so.”

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