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LendInvest reports record number of bridging apps in Q3

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  • 22/10/2020
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LendInvest reports record number of bridging apps in Q3
LendInvest has seen a 65 per cent annual increase on signed bridging applications in Q3 2020, reaching record numbers for the lender.

 

It remained open as usual throughout the lockdown and continued to process existing and new loan applications.  

Lendinvest already reported increases in signed applications during the first half of the year, but Q3 exceeded those numbers with a 58 per cent growth on total signed applications compared to the previous quarter.  

Justin Trowsedirector for bridging at LendInvest, said: “It’s been a tremendous quarter for new short-term lending business at LendInvest 

Our pipeline is a record to date, and with the completion levels increasing month on month, we can only see this trend continuing into Q4 as property professionals seek to capitalise on the stamp duty land tax holiday ahead of its current withdrawal date in spring 2021.”  

Leanne Smith, sales director at LendInvest, added: “The team has worked tirelessly over the past six months not only allowing us to remain open for our brokers and borrowers throughout lockdown, but also ensuring those customers received the highest level of service throughout this time.  

“Call volumes and new applications are at the highest we’ve ever experienced and bridging packaging has improved materially for us internally. 

With new systems and processes constantly being reviewed to manage and improve turnaround times, I am confident that we will be able to meet the increasing demand for property finance over the next couple of months while maintaining the high service levels we currently are, she said.  

 

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