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ASTL publishes first set of bridging loans data

Lenders part of the Association of Short Term Lenders currently have just under £1bn in outstanding loans after members lent £265m in the three months to the end of September, the trade body’s first set of lending figures show.

There is now £974m of loans outstanding. In the third quarter ASTL members received just over £1bn in applications.

ASTL chief executive Benson Hersch says: “There is a growing need for bridging and short term loans of 12 months and under as mainstream lending becomes harder to access. The first, complete quarterly statistics from ASTL members reveals that while bridging makes up just a small proportion of overall lending, the amounts lent are significant.”

“The quarter up until the year end has seen increased demand and I expect the next quarter’s figures to show an increase in both demand and loan values.”

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Comments
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  • peter stimson 20th December 2012 at 11:43 am

    These figures are so tiny as to be almost meaningless.

    Give that:-

    (a) Nearly all bridging are on properties inside the M25 and
    (b) is nearly all for large loans, often in excess of £1M,

    the £265M lent in the last Qtr will equate in my maths to between 150 and 300 loans granted

    This is a very specialist, unregulated sector which has no real bearing or elevance to the overall mortgage market