"It remains to be seen how the ebb and flow of Brexit negotiations will affect the sector, but the market remains good for the time being."
Results for the quarter showed sustained positive growth, including record highs of £875 million for loans written and £4.9 billion for applications received.
The value of loans written increased by 12.1% on Q1 2017 and 17.8% on Q1 2016. Annual growth in loans written, comparing the year ending June 2017 to June 2016, showed a more modest 6.7% growth.
The pace of increase in applications increased by 39.6% compared to the same quarter a year ago, while the figures for the year ending June 2017 show an even greater increase of 56.6% compared to year ended June 2016.
Total loan books have bounced back, with a rise of 5.8% compared to 31 March and 10.6% up on 30 June 2016, but the ASTL says this pattern "remains erratic".
Benson Hersch, CEO of the ASTL, said: “The increase in positivity shown by members in a recent sentiment survey seems to be reflected in the latest figures. It remains to be seen how the ebb and flow of Brexit negotiations will affect the sector, but the market remains good for the time being. Barring unexpected jolts to the economy, I expect a period of consolidation ahead, especially with the increasing likelihood of interest rate rises.”
