In the last quarter up until the end of September, applications were received for £1.064billion, while astl members lent £265million worth of loans. The loan book at end of period was worth £974million.
Figures for the quarter ended September 2012 reveal that applications were down on the previous quarter, but there is a steady upward trend in the value of loans written and the size of loan books.
Benson Hersch, chief executive of the astl, says:
“There is a growing need for bridging and short term loans of 12 months and under as mainstream lending becomes harder to access. The first, complete quarterly statistics from astl members reveals that while bridging makes up just a small proportion of overall lending, the amounts lent are significant.”
“The quarter up until the year end has seen increased demand and I expect the next quarter’s figures to show an increase in both demand and loan values.”
Astl short term lending figures, representing the lending of all of its members, will now be produced and published quarterly.
