Crystal Specialist Finance reports record bridging growth for H1 2023

Bridging applications were up by 41 per cent compared to the same period last year and completions rose by 32 per cent.

The lender said brokers were starting to see the benefits of bridging finance and recommending it to clients. It also suggested that the similar pricing between bridging and two-year fixed deals, especially in the buy-to-let space, made the option more attractive.

Crystal Specialist Finance said bridging loans were also more available to those with adverse credit and the flexible terms allowed borrowers to decide when to exit.

Jo Breeden (pictured), MD of Crystal Specialist Finance, said: “At Crystal, we see the many benefits of bridging finance in the current economic climate and indeed current market conditions are ideal for bridging. We’ve always been advocates of bridging given its speed and flexibility and the lenders in the market have responded positively and nimbly to client needs when designing their products.

“We have developed market expertise in bridging finance, and we work closely with lenders to ensure that product development has the best outcome for clients at its heart. Deals can complete in days, not months and our current record for a deal of this kind is just eight hours.”