Bridging loan applications rise 17% to £6.1bn in Q3
Bridging loan applications totalled £6.1bn in the third quarter, up nearly 17% compared with the same period last year, according to the Association of Short Term Lenders (ASTL).
Year-on-year annual applications reached nearly £23bn, and bridging loan books totalled £4.3bn at the end of the quarter, representing a reduction of 6% compared with the prior quarter, but an increase of more than 5% on the same period last year. ASTL chief executive Benson Hersch described the data as “another strong set of results for the bridging sector”, adding: “There is no doubt that the sector is in rude health and estimates of total loans written for the year in excess of £6bn seem to be on the money”.
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