Bridging industry growth ‘steady’ – West One
by: Emma Lunn
Since June last year the annual rate of growth in gross bridging lending has averaged 25.1%, representing significant stabilisation.
By contrast, growth in the previous period was faster, but more volatile.
Gross annual bridging lending in the UK now stands at a new record of £2.23bn, as of 1 September 2014., according to West One.
In the preceding twelve-month period, ending 1 September 2013, annual gross lending stood at £1.83bn.
Duncan Kreeger, director of West One Loans, said: “In a world returning to economic hope, there will be even sharper demand for imaginative finance as we saw in a world paralysed by financial fear.
“So bridging lending continues to grow, and reaches a fresh record practically every month. But bridging is also securing a new, more reliable mode of expansion to fit a new, more professional and competitive industry.”