Figures from trade body the Association of Short Term Lenders (ASTL) suggest the value of new loans written rose by 92% compared to the same quarter last year.
The value of the overall loan book increased by 50.4% this quarter compared to the same quarter last year, while the value of applications increased by 52% compared to the same quarter last year.
These figures are based on the performance of ASTL members.
Despite the figures, bridging applications fell by 15% between Q1 and Q2, coming off the 83% increase in Q4 last year.
Benson Hersch, chief executive of the ASTL said: “The dramatic rise in applications for bridging loans seen last quarter has not been repeated. Clearly, previous figures were skewed by one-off factors. This should not obscure the fact that the overall trend is strongly upwards, with our members writing £1.8bn worth of loans in the past year.”
The ASTL is holding its annual conference at Painter’s Hall in the City of London on 16 September.
