Quarterly bridging completions up 12.6%: ASTL
Bridging completions dipped in Q3 but remained 21.2% higher on an annual basis to reach £3.98 billion, according to the latest ASTL figures.
"Figures for Q3 2018 show an ongoing year on year upward trend. "
The value of loans written in Q3 saw a small decrease of 0.6% compared to the previous quarter, but rose by 12.6% compared to Q3 2017.
Total loan books rose by 2.1% compared to Q2 and by 16.6% compared to the end of Q3 2017.
On an annualised basis applications are up by 8.9% annually, making up a total of £20.5 billion, but fell by 3.3% on a quarterly basis.
However the ASTL noted that applications tend to be 'unreliable indicators'.
Benson Hersch, CEO of the ASTL, said: “Figures for Q3 2018 show an ongoing year on year upward trend. Our members continue to provide flexible and useful services to customers who require finance for a whole range of purposes. Despite current political and economic uncertainties, lenders are very much doing business as usual.”
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