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Bridging lending hit £875m in Q1, says ASTL

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Bridging lending hit £875m in Q2, up 12.1 per cent from Q1, according to the Association of Short-Term Lenders.

Applications received were £4.9bn in the period.

The year to 31 June 2017 saw more than £3bn of bridging loans extended, up from £2.8bn for the year before.

ASTL chief executive Benson Hersch says: “The increase in positivity shown by members in a recent sentiment survey seems to be reflected in the latest figures.

“It remains to be seen how the ebb and flow of Brexit negotiations will affect the sector, but the market remains good for the time being.

“Barring unexpected jolts to the economy, I expect a period of consolidation ahead, especially with the increasing likelihood of interest rate rises.”

These figures are taken from the responses from ASTL members, which include most of the large lenders in the bridging market.

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