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Bridging completions jump 30% year on year – ASTL

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  • 23/05/2018
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Bridging completions jump 30% year on year – ASTL
The Association of Short Term Lenders has said the bridging industry is in “good shape” after its latest figures revealed further growth.

Annual bridging completions are now close to £3.8bn, up by just shy of 30% on last year. Meanwhile the value of bridging loans written has jumped by 1.5% on the final quarter of last year and by almost a third (32.5%) from the same period in 2017.

According to the ASTL, loan books of member lenders are up by 13.1% from the final quarter of last year to £4.2bn. This is an increase of 35.6% year-on-year.

Applications have also increased on an annual basis by 23.3%, to a total of £19.7bn.

Benson Hersh, chief executive of the trade body, said the figures demonstrated that the bridging finance industry is in “good shape”.

He continued: “The bridging sector is now a well-established part of the property finance market and should continue to grow.”

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