x
By using this website, you agree to our use of cookies to enhance your experience.

The bridging industry remains overwhelmingly positive despite the uncertainty surrounding the General Election.

Members of the Association of Short Term Lenders (ASTL) appear confident despite speculation on how future housing policies could affect the industry.

The ASTL's sentiment survey of all of its members revealing overwhelmingly positive results.

Members responded unanimously that they feel confident about the next six months while only 20% said their business had been negatively affected by the election uncertainty.

And 73% said their business has grown over the last six months.

Feedback from members has consistently suggested that they have not been affected in the same way as the mainstream mortgage market.

Bridging volumes have continued to grow, whereas Bank of England figures show that the mainstream market has either declined or remained static since July last year.

The survey also showed that 73% of ASTL members also expected their business to do better in 2015 that in 2014.

Although 27% feel that their volumes will stay the same this year, none of the members surveyed expected their business to take a plunge in 2015.

During the last survey, in November last year, 35% of the respondents were sceptical about seeing growth in the market.

Benson Hersch, chief executive of ASTL said, "Lenders in bridging market remain incredibly positive.

"The bridging market continues a healthy growth rate in contrast to the mainstream market that has seen setbacks throughout the last six months.

"With the ongoing shortage of supply in housing, purchasers need to make up their minds quickly so bridging finance will come into play for those who've not yet sold their existing property.

"As a result of this and a growth in the numbers of property developments, members are recording increased business volumes and this has kept confidence very high throughout the election.

"It will be interesting to measure this sentiment again over the next few weeks and months, when we know the results, to see what impact the election had."

Comments

MovePal MovePal MovePal