News

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.

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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.

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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.

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 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.

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