We’ve been around long enough in this sector to spot the patterns. First comes the urgency, then comes caution, and then, if we’re lucky, comes the maturity.
That’s exactly what we’re seeing in the bridging market right now. Not a slowdown or a slump, but a more considered, more stable approach, particularly when it comes to borrower behaviour.
Because when you step back from the noise, the story that starts to emerge isn’t one of declining demand. It’s one of sharper decisions, and deals that are built with exits, not just entry points, in mind.
A shift in behaviour, and pace, that benefits everyone
Over the past 12 months, we’ve seen a very clear change in how borrowers are approaching deals. Clients aren’t rushing to accept terms or push forward without thinking. In many cases, we’re seeing several weeks, even months, between an initial enquiry and a formal commitment.
But, to me, that's not hesitation. It’s due diligence. People are really taking stock and thinking more carefully about what they’re getting into and how they plan to get out of it. And that kind of behaviour, while it may make the pipeline look a little slower on paper, leads to far more robust transactions in the long run. It’s healthy. For borrowers, for brokers, and for lenders like us.
According to the BDLA’s latest Q3 2025 data, bridging completions reached £2.5 billion, which is a 9.6% increase on Q2 and 42% higher than the same period last year. Applications were also up, reaching £11.4 billion for the quarter. Meanwhile, lender loan books hit a new high at £13.7 billion.
That doesn’t happen in a market that’s stalling, but more when borrowers and brokers are aligned, organised, and thinking clearly about both the opportunity and the outcome.
It all starts and ends with the exit
In bridging, we always say the exit is everything. And this year, that sentiment has really come to the fore.
We’re seeing more borrowers arrive with clearly thought-out strategies, not just for the deal itself, but for what happens afterwards. They’re thinking about whether they’ll sell, refinance, or retain. They’re factoring in realistic timelines. They’re asking, “What if the market slows again?” and planning accordingly.
That sort of thinking tells us a huge amount, because ultimately, a bridging loan only works if the client can get out of it. And what we’re seeing is borrowers and their advisers putting more energy into answering that question from the get-go. You learn to spot the difference between a client chasing an opportunity and a client following a plan, and more and more, we’re seeing the latter.
Dialogue, not distance
Another big change is in communication. Or rather, the consistency of it.
At Inspired, we don’t believe in handing over funds and disappearing until the redemption date. We stay close throughout the loan term. We check in and ask questions regularly. And increasingly, our borrowers are doing the same.
That kind of relationship, with regular touchpoints, open conversations and mutual updates, helps everyone along the process. It gives lenders like us visibility over how the project is tracking and it gives borrowers the chance to raise issues early, rather than letting them spiral out of control.
Because the truth is, when someone goes silent, it’s usually a sign something’s gone awry. Communication signals confidence and it’s quickly becoming one of the clearest indicators of a well-managed deal.
A market returning to strength
There’s been plenty of speculation around where the market is heading. But the latest data shows that this is not a boom built on speculation or panic.
Yes, volumes are rising. But it’s the nature of those deals, and the behaviour behind them is what really matters.
There’s always a temptation in specialist finance to read too much into the numbers, to take every dip as a downturn, and every spike as a boom.
But more often than not, the truth sits somewhere in the middle. From our perspective, borrower behaviour is improving. Clients are thinking longer term. Brokers are structuring more strategically. And lenders are responding with offers that reflect both that confidence and caution.
