Bridging Loan Applications are on the Rise

Splashed all over the news is the ASTL's announcement that loan applications have increased by 8% since December 2012. This is good news for the industry and good news for the consumer as lenders are lending. Below are series of related articles as the news gets out.

Bridging loans hit £1bn mark

The Association of Short Term Lender’s figures for 2012 show members originated £1.054bn in bridging loans in 2012, an 8 per cent increase on 2011.

Demand for bridging loans soared in the fourth quarter of 2012 with £1.3bn in applications received, up 23 per cent on the third quarter.

In total ASTL members actually advanced £283m-worth of loans over the quarter, which was up 6.8 per cent on the third quarter.

Read More from Mortgage Strategy

Bridging loan applications on the rise

Bridging loans on the rise

The Association of Short Term Lenders (ASTL) has reported an increase in bridging and short-term loan applications in the fourth quarter of 2012.

The trade body for short-term lenders revealed that applications were received for £1.3 billion, a 23% rise on the previous quarter.

ASTL members advanced £283m worth of loans, up 6.8%, according to the latest figures.

The loan books at the end of 31 December 2012 were up over 8% to £1.05 billion after a period of “steady growth”.

Benson Hersch, chief executive of the ASTL, called the figures “significant”.

Read More at Credit Today

Further related Articles

Hanover Square Brokers report surge in bridging loan applications

ASTL reveals 23pc increase in bridging loan apps

About the Author

Andrew Eagle has worked in the Finance Industry for over 26 years, currently specialising in bridging loans. He regularly contributes to blogs on bridging finance. Find him on Google +

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