Lending and sales increase

It is no secret that there has been a big upturn in the property market in the last 12 months. Every month for the last 10 months figures from the Bank of England have reported large increases in both lending and property sales.

This has filtered through to bridging finance and commercial lending in a very big way right across the United Kingdom. Reports are showing short term lending is up a massive 34% on this time last year and we can confirm this at Fastest Bridging.

Demand for this type of funding is highest in London and the surrounding areas, but we have also seen the demand growing across the whole of the country and particularly Wales.

The majority of the demand is coming from the developers looking to increase their property portfolios as rates are so attractive at present. We have also seen a big increase in demand for redevelopment funding as landlord look to upgrade existing properties.

As we all know property prices are rising daily and many investors see the necessity to act quickly on a purchase. The general feeling among property developers is to secure the deal as fast as possible and of course this is where bridging finance comes into its own.

Not many mainstream lenders can turn a deal around as quickly as the investor would like and more than often not even prepared to look at this type of loan.

Bridging finance is unique as each individual case will be assessed on its merits and if it is a “clean” case finance can be ready in days rather than weeks.

Looking to find out more?

At Fastest Bridging we pride ourselves on the service we provide so if you need any help or guidance please do call us. One of our expert advisers will be on hand to deal with your request so we look forward to hearing from you.