Gross annual lending hit £4.2bn in April, accord to the West One Bridging Index and the lender said it believes steady growth will continue this year.

The growth comes after a difficult 2016 in bridging in which the UK’s decision to leave the European Union saw lending figures fall in Q3.

Stephen Wasserman, managing director of West One Loans said the figures will promote confidence “as an increasing number of commentators moot a slowdown in the housing market”.

“Indeed, we continue to predict that the bridging market will go from strength to strength,” he added. “Market moves present an opportunity for investors and those looking to capitalise on this will be seeking out the financing needed to enable them to do so.

“Whatever happens next, the industry needs to be ready with diverse and flexible financing options for property purchasers. The bridging sector has seen a five-fold growth in lending since 2011 and is well placed to take advantage of economic fluctuations, being able to adapt to changing needs as and when they emerge.”

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