Bridging completions see 21% annual rise despite Q3 dip: ASTL

Bridging completions dipped in Q3 but remain 21.2% higher on an annual basis at £3.98 billion, according to the latest ASTL figures.

Related topics:  Specialist Lending
Rozi Jones
19th November 2018
bridging lending gap
"Despite current political and economic uncertainties, lenders are very much doing business as usual."

The value of loans written in Q3 saw a small decrease of 0.6% compared to the previous quarter, but rose by 12.6% compared to Q3 2017.

Total loan books rose by 2.1% compared to Q2 and by 16.6% compared to the end of Q3 2017.

On an annualised basis applications are up by 8.9% annually, making up a total of £20.5 billion, but fell by 3.3% on a quarterly basis.

However the ASTL noted that applications tend to be 'unreliable indicators'.

Benson Hersch, CEO of the ASTL, said: “Figures for Q3 2018 show an ongoing year-on-year upward trend. Our members continue to provide flexible and useful services to customers who require finance for a whole range of purposes. Despite current political and economic uncertainties, lenders are very much doing business as usual.”

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