Loans written by ASTL members in the year ended September 2014 have now exceeded £2 billion.
The number of loans written increased by 18.2% in the quarter ending September 2014 compared to Q2 (ending in June 2014) and by 7% for the year ending September 2014, compared to the year ended September 2013.
There has been an 11.6% increase in the value of applications for bridging loans in Q3 2014 compared to Q2 2014. This reverses the trend in the previous quarter where there was a 19% decrease, but is still less than the spectacular figures for Q1 2014 where the value of applications increased by 83% quarter on quarter.
The value of applications does tend to be volatile on a quarter by quarter basis but the long-term trend continues to be positive.
Benson Hersch, chief executive of the ASTL says:
“This was yet another bumper quarter for our members, who have written £1.98 billion worth of loans in the past year.
“Bridging continues to play an important role in the alternative finance market, and our members provide a responsible and reliable service for both SMEs and homeowners. Members are positive about the prospects for the current quarter and the year ahead.”
