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Bridging Loan Lending Reaches Record High

Bridging Loan Lending Reaches Record High

Bridging loan use by property investors rises again 

Short-term bridging loan finance is at a new all time high, according to new data published by short-term secured finance providers, West One loans.

Annual lending of £778 Million (GBP) meant that short-term second charge lending by consumers reached a new record high over the last year.

At the start of 2013 the gross amount of bridging finance being borrowed was recorded at £549 Million (GBP) and an increase of 42% in business saw an additional £229 Million (GBP) in gross short-term secured lending being sought by property investors in the twelve month period to 2013 in order to reach the new high. 

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Increased Demand for Buy-To-Let Bridging Finance Loans

Increased Demand forBuy-To-Let Bridging Finance Loans

Bridging Finance Loans Increase £1.79 Billion (GBP) In 2013

New data from Positive Bridging Finance shows that buy-to-let property investors are turning to bridging finance in order to facilitate property purchases and rental property refurbishment and gross lending to August this year reached £1.79 Billion (GBP).

The research discovered a 25% increase in bridging loans taken out during 2013 and on average, a typical bridging loan used by property investors is around £220,000 (GBP), up 5% year on year with an average term of six months.

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