Bridgingloans.com sees record number of completions

Bridging lender, Bridgingloans.com has seen increased loan completions month on month for just under one year.

It believes this is a sign of the ongoing relevance and utility of short-term financing.

Bridgingloans.com has recently had its funding lines extended which will enable it to continue dealing with enquiries.

Ryneveld van der Horst, finance director at Bridgingloans.com, says: “It is important to be responsible. Enquiries are up everywhere, but it takes robust lending criteria to ensure that you don’t make bad decisions which will jeopardise both your business and the borrower.

“At a time when the market is extremely unpredictable, it is vital that both brokers and bridging providers fully understand what the project is that they’re financing and to whom they’re lending the money to.

“Bridging is a financing option that has always required a clear exit route before a loan can be agreed and it is because of this strict process that this sector of the finance industry has not been as badly affected by the current conditions and will continue to remain stable during this challenging time.”