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.”