National bridging lending has increased by 35% in 12 months, whilst Wirral-based Bridging Finance Solutions has seen its lending increase by 60% during the same period.
The latest figures reveal that short term lenders are providing more than £2.7bn of finance, up from just over £2bn in April 2014, which is a huge increase compared to mainstream mortgage lending which shrank by 4% during the 12 months.
Steve Barber, Managing Director at Bridging Finance Solutions said: “These are fantastic figures for the industry and reflect how bridging is increasingly being recognised as a mainstream finance solution by professional advisors.
“The can do approach of bridging lenders and the fast paced nature of the industry is being received incredibly well by brokers and professional advisors keen to move quickly and ensure they are able to secure the deal in the necessary timeframes. The bridging industry is undoubtedly maturing in a way that the mortgage industry did in the 80’s and is no longer a one size fits all sector with businesses finding their own niche in a growing market.
“Whilst mortgage lending remains steady, it is the bridging lending market that is charging ahead, a trend that looks like it will continue well into the summer months.”
Bridging Finance Solution is one of only a handful of FCA accredited bridging lender in the North West. Borrowing based on high standards, industry leading accreditation and a solid reputation has driven BFS lending rates to exceed the national industry average.