ASTL reveal bridging applications up 23% in Q4
The ASTL, the trade body for short term lenders, has revealed its figures for bridging and short term loans for the quarter ended 31 December 2012.
Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in C:\inetpub\wwwroot\2025.financialreporter.co.uk\htdocs\templates\front-end\partials\article_blockquote.php on line 2
Applications were received for £1.313 billion, up over 23% from the previous quarter, while astl members advanced £283million worth of loans, a rise of 6.8%. The loan books at the end of the period totalled £1.054 billion, an increase of over 8%.
Benson Hersch, chief executive of the astl says:
“The figures released today are significant. They reflect the increased demand I expected and; despite some increased bank lending and the effect of the Funding for Lending Scheme, there is still a need for bridging finance.
“The current quarter has seen steady demand and I expect the next quarter’s figures, which will be published before the end of May, to continue to show a steady increase.”
ASTL short term lending figures represent the lending of all of its members; they are produced and published quarterly.
Breaking news
Direct to your inbox:
More
stories
you'll love:
This week's biggest stories:
Buy-to-let
Buy-to-let market 'in transition' as landlords turn to refinancing
MPowered Mortgages
MPowered closes to new business amid potential sale
FCA
FCA bans and fines adviser £100,000
Budget
Reeves lays groundwork for tax rises in surprise pre-Budget speech
Bank Of England
Interest rates held at 4% in narrow 5-4 vote
Budget
What taxes could be raised in the Autumn Budget?
