93% of brokers considered bridging finance to be a useful product in the third quarter of this year compared to 77% in the second quarter, according to bridging lender MTF.
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div>93% of brokers considered bridging finance to be a useful product in the third quarter of this year compared to 77% in the second quarter, according to bridging lender MTF.
76% of respondents to MTF’s quarterly broker sentiment survey also experienced a rise in bridging loan volumes during the last quarter, with bridging lending increasing by £32.6m to £131.7m.
Tomer Aboody, Managing Director at MTF, said: “The days when bridging finance was seen as a last resort and reserved only for desperate borrowers is a distant memory.
“Professional standards have improved significantly over the years and the market has matured to an extent where lenders are now operating in their own niche sectors and focusing on their strengths.
“Bridging finance now sits comfortably alongside the mainstream as many brokers and borrowers now see it as a legitimate alternative to high street finance.”
Demand for bridging loans is now higher outside London than it is in the capital, with 59% of brokers saying they witnessed the biggest increase in demand in the South West of England.
London and the North West saw the greatest falls compared to figures in the first quarter, falling from 48% and 18% respectively.
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