Bridging finance grows to more of intermediary business
Friday 23rd December 2011
Bridging and development finance have become a significant proportion of a broker’s business, a new survey of intermediaries by United Trust Bank has shown.
The survey shows that by value, bridging represents 13% of business and development represents 24%. Buy-to-let also represents 13%.
In top place, however, are commercial loans which represented the biggest single type of business written at 29%.
Rob Love, head of bridging sales at United Trust Bank, said: “We conducted the survey so that intermediaries could help shape the future of our business.
“An essential starting point for us is to better understand which product sectors are most important to their businesses.
“I think the results reinforce the message that bridging finance is an important part of a modern day broker’s armoury. The figures show it to be as significant as buy-to-let.”
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