Increased bridging loans in UK

The bridging loans market is continuing to increase with almost £50 million worth of bridging lending being granted.

bridging loanMeanwhile £2.5bn worth of loans was completed successfully over the last year and clients were benefited with £10million of short term funding. The completed deal from past year shows 24 percent increase, which is a rapid growth.

According to an expert: “The £2.5bn of annual gross bridging lending is the headline statistic that preoccupies us all and rightly so, but when you break it down to a day-by-day lending it shows of how useful bridging loans are proving to be on a daily basis. Almost £50m a week is a significant lump of finance and allows a sizeable number of individuals, developers and business owners to complete projects that would otherwise have failed without short-term funding.”

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