ASTL bridging book expands by 54%

In 2014, £2.27 billion worth of loans were written by the Association of Short Term Lenders, marking a 54 per cent increase on the previous year.

Additionally, the value of applications for bridging loans outstripped anything seen according to the ASTL’s latest quarterly figures.

Applications increased by a 63 per cent year-on-year, with a 20 per cent increase in Q4 over Q3.

Chief Executive of the ASTL, Benson Hersch, says that the performance of members in 2014 spells a positive outlook for the bridging industry in 2015.

“Bridging has established itself as an increasingly valuable source of finance, so intermediaries seem more aware of its benefits and appear to be happier to recommend bridging loans than in the past,” said Benson.    

“Our members are at the forefront of responsible bridging lending and provide a responsible and reliable service for both SMEs and homeowners.”

The figures are taken from ASTL members, which include some of the key bridging lenders in the bridging market.