Drawbridge Finance sees 128% increase in AIPs in August
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London-based specialist short and medium-term finance company Drawbridge Finance saw a 128% rise in the number of Agreements In Principle issued during August compared to July.
In August, typically a quiet month for the property market, Drawbridge Finance issued 127 AIPs on loans amounting to just more than £110m, with more than one AIP a day converting into a successful deal.
Mark Posniak, head of marketing and operations at Drawbridge Finance, says: “The residential property market may be suffering but professional property investors are as active as ever.
’Uncertainty represents opportunity and so the more volatile the market gets, the more active portfolio investors and other professionals become. What we have noticed is that they are much more specific about their lending needs and demand finance solutions tailored specifically to those needs. Bespoke bridging is becoming more important than ever.”
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