As part of Mortgage Solutions‘ alternative income week we asked brokers how many bridging cases they had completed in the last six months.
The overwhelming majority of respondents (80%) said they had not completed a single case in that period.
The poll found 4% of brokers had completed 1-3 cases in the last six months, with 12% having conducted 4-6 cases and a further 4% completing seven or more bridging deals.
Mark Posniak, head of sales and marketing at Dragonfly Property Finance, wrote a blog for Mortgage Solutions earlier this week and said there was a gap in the market brokers could exploit.
“I’d say that bridging dovetails so perfectly with the mainstream mortgage and property markets that it shouldn’t even be referred to as an alternative income stream – it’s integral rather than alternative,” he said.
“Bridging is the perfect solution for so many residential scenarios, from broken chains and auctions to downsizing and freeing up cash from equity quickly – for any purpose.”