Bridging loans meet the fast finance demands of borrowers and brokers

Bridging loans are favoured by borrowers due to their flexibility and speed in which they can be deployed. This is particularly important when it comes to property investment, giving prospective buyers of residential or commercial real estate the ability to act quickly and confidently once an opportunity presents itself.

New statistics revealed by the Association of Short Term Lenders show that the UK’s bridging loan books reached a record £4.62 billion in value by the close of Q2 2019 – an increase of 11.7% on the previous quarter’s figures. What’s more, the total value of bridging loan applications in the 12 months leading to July 2019 totalled £22.13 billion.

Based on these figures, it is clear that borrowers are pursuing new investment opportunities despite the political uncertainty caused by Brexit. This is important given the original date for Brexit was pushed back from the 29 March to 31 October during this period.

As is the case here at Market Financial Solutions (MFS), more borrowers are turning to specialist finance providers to meet their lending requirements. Part of this reason is due to the fact that high street banks have adopted a more risk averse approach when it comes to arranging loans. By adhering to a stringent tick-box application process, mainstream lenders are simply ill-equipped to deal with complex cases – something that MFS excels at.

Interestingly, separate figures from the ASTL in June 2019 showed that while applications for bridging loans are on the rise, completions are down. This poses a significant challenge for borrowers and intermediaries, who need to sift through the expanding number of specialist finance products and find lenders best suited to address their nuanced bridging loan needs.

MFS has been supporting the demands of borrowers, and the brokers who represent them, for well over a decade. And at a time when lenders are struggling to operate amidst current uncertain conditions, MFS has been reaching new milestones – we recently issued our largest bridging loan to date, valued at £17.64 million. What’s more, we’re also expanding our sales team to address the growing number of inbound inquiries – recently, we welcomed Ewan Duncan as our latest business development manager.

To find out how MFS can support your finance needs, get in touch by emailing info@mfsuk.com. Alternatively, you can download a copy of our lending guide for a full breakdown of the services, products and incentives we offer our clients.

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