Mortgage News
Brokers expect housing boom to boost bridging
Almost two-thirds of mortgage brokers believe a growing residential mortgage market will lead to increased business in the bridging sector.
Research carried out by United Trust Bank found 64% of brokers believe an increase in the property market with boost demand for short-term bridging loans compared to just 33% who thought the market would remain flat.
Brokers were bullish about the prospects for their overall business this year with 81% expecting to grow in the coming 12 months.
Alan Margolis, head of bridging at United Trust Bank, said the lender was already experiencing an increase in demand from brokers.
“Brokers’ expectation that demand for short-term bridging finance will increase with the general upturn in the property market is supported by our own experience. January is usually a quieter month, but so far this year it’s been exceptionally busy and we’ve issued a record number of Decisions in Principle for the period.
“An active housing market, increased confidence in the economy and a positive business sentiment, combined with our highly competitive bridging interest rates means our short term loans have become ever more appealing and useful in a wide range of circumstances.”
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