Bridging completions, applications and loan books all continued to grow in Q3 2022, according to the latest data from the Association of Short Term Lenders (ASTL).
The figures, compiled by auditors from data provided by members of the ASTL, show that bridging completions were just over £1.4bn in the quarter ending September 2022, representing an increase of 15.9% on the June 2022 quarter. This means that completions have now been more than £1bn for six consecutive quarters.
Hampshire Trust Bank has become the latest member to join the Association of Short-Term Lenders (ASTL).
Hampshire Trust Bank is a specialist bank staffed by experts focussed on providing asset finance, specialist mortgages and development finance solutions. It offers a range of specialist buy to let and semi commercial mortgages, residential and commercial bridging loans, as well as a full development finance proposition, all available through intermediaries.
OSB Group has become the latest member to join the Association of Short-Term Lenders (ASTL).
OSB Group is a leading specialist lender, primarily focused on carefully selected sub-segments of the mortgage market, with lending brands that include Precise Mortgages, InterBay Commercial and Heritable Development Finance, as well as Kent Reliance for Intermediaries.
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The Association of Short Term Lenders (ASTL) has announced the appointment of three new members to its executive board.
Bridging market rebounds in Q2 2022
Bridging applications, completions and loan books all rebounded Q2 2022, according to the latest data from the Association of Short Term Lenders (ASTL).
Bridging applications and completions in Q1 2022 have fallen back from their record highs in Q4 2021, but remain strong compared to the long-term average, according to the latest data from the Association of Short Term Lenders (ASTL).
The figures, compiled by auditors from data provided by members of the ASTL, show that bridging completions were £1.04bn in the quarter ending March 2022, a fall of 15.8% on the previous quarter, when they reached £1.24bn. However, they remain higher than the same quarter last year when completions were just over £900m and completions have now been more than £1bn for four consecutive quarters for the first time since records began.
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Family Finance has become the latest lender to join the Association of Short-Term Lenders (ASTL).
Family Finance was founded in 1953 by a consortium of local businesspeople in South Wales, providing finance for families in the area. Now in its seventh decade of trading, the company continues this tradition whilst also covering a wider demographic and geographical area, and whilst now also providing finance for commercial customers. Family Finance now caters for more than 12,000 customers throughout South Wales, the West Country, the Midlands, and the north of England. All lending is advanced with Family Finance as the principal lender.
By: Vic Jannels, CEO at the Association of Short Term Lenders (ASTL)
As a market that is predominantly dominated by intermediary distribution, short-term property finance faces a challenge, in that providers of products and services effectively have two customers – the intermediaries and the end customers. It is important they have an in-depth understanding of both, but sometimes it can be easier to develop a more thorough understanding of the more immediate customer, the intermediary.
Glenhawk has become the latest lender to join the Association of Short Term Lenders (ASTL).
Glenhawk provides swift, competitive short-term property finance to help clients realise opportunities and progress developments. The lender has built its proposition on an accessible senior-leadership team, who are deeply experienced in the real estate and financial worlds and dedicated underwriters able to guide and support every loan from the initial enquiry through to the loan completion.
The latest ASTL data shows a record period for bridging lending in the last quarter of 2021, with completions and applications both reaching an all-time high.
The figures, compiled by auditors from data provided by members of the Association of Short-Term Lenders, show bridging applications reached a record high of £12.7bn in the quarter ending December 2021 – an increase of 65.4% on the previous quarter, which itself was a record period at the time.