When the global financial crisis struck in 2008, property investors were confronted by a challenging set of circumstances. To minimise risk, mainstream lenders – particularly high street banks – adopted stringent regulations, meaning the process of acquiring a loan became more time-consuming, bureaucratic and complex.
In response, bridging lenders like Market Financial Solutions (MFS) doubled their efforts, offering bespoke bridge loan solutions that could be assessed, approved and deployed within a matter of days.
Since then, the bridging market has grown substantially in size, with lenders offering tailored bridging finance to brokers and borrowers in a range of different financial circumstances, including buy to let investments. Indeed, MFS’ recent achievements infer that demand for bridging loans looks likely to remain high – in the first six weeks of 2019, we received over £100 million worth of bridging applications, while in 2019 we issued an industry-defining £17.64 million bridging loan.
The Association of Short-Term Lenders (ASTL) has been vital to the market’s success, providing a forum to discuss pertinent industry trends and benchmarking the high standard of professional service underpinning the bridging loan market.
Under the leadership of Benson Hersch, who became chief executive in 2012, the ASTL is recognised as one of the leading bodies within the specialist finance space. Now, with Hersch stepping down in September 2019, MFS has created an infographic charting the performance of the bridging sector over the past decade and celebrating the rise of short-term finance in the UK. The infographic also provides a timely opportunity to reflect and celebrate Benson Hersch’s role in leading the body over the past seven years.
Click here to download a copy of our new infographic. Alternatively, if you would like to find out how bridging loans can support the property investment intentions of you or your clients, be sure to arrange a meeting with one of our experienced BDMs by emailing firstname.lastname@example.org.