Brokers can help bolster the buoyant buy-to-let market with bridging loans, claims Blemain Finance.
The firm says that total funds advanced on its bridging cases increased by almost 17% in September 2007 compared with the same period in 2006.
Gary Bailey, director of Blemain Finance, says the figures prove the buy-to-let market is flourishing despite difficult market conditions. He says that persistent demand from landlords using bridging finance to secure property is largely responsible for the rise.
He adds: “Some would have us believe that the buy-to-let boom has had its day. But the evidence is that while buy-to-let may no longer be an easy way to make a quick buck, landlords who are prepared to take the long view are in the majority and are as serious as ever about property investment.
“Brokers should not discount the revenues that can be generated by targeting buy-to-let investors. They could prove to be a valuable source of income in the current market.”