Research released this week by ARLA Propertymark has shown that demand for rental properties is surging. The figures illustrate that year-on-year tenancy demand from the UK’s rental population has risen by 10%, demonstrating the vibrancy of the country’s renowned buy-to-let market.
In line with growing investor appetite within Britain’s property market, the UK bridging industry has also experienced a significant surge in loan demand; new figures from the Association of Short Term Lenders show that there was a 26% rise in the value of bridging loans written in the final quarter of 2016 when compared to Q3.
One of the key drivers of growth in the bridging industry is the difficulties property buyers across the country are facing in accessing the funds they need in a timely manner. Recent research by Market Financial Solutions revealed the underlying struggles of property investors when dealing with traditional lenders – 12% of the UK’s top earners have been refused a first, second or buy-to-let mortgage due to a poor credit rating in the past five years.
Alternative finance offers the speed and efficiency the market demands, with over 6 million people having used specialist lending streams in the UK. Furthermore, with more and more investors turning to bridging to meet their finance needs, MFS is delighted to announce that it is currently offering up to 1.5% commission as part of our competitive intermediary incentives. This is for loans up to 75% LTV, specialising in complex cases.
To find out MFS supports intermediaries seeking bridging finance for their clients, click here. Alternatively, speak to a member of the MFS team on 020 7060 1234 to find out how bridging finance can help property investors execute their 2017 strategies effectively.