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:
This week's biggest stories:
Santander
Santander launches 98% LTV ‘My First Mortgage’
First-time Buyer
Improved affordability sparks 20% rise in first-time buyers: Nationwide
Inflation
Further rate cuts dampened as inflation rebounds to 3.4%
Mortgage Rates
Two Big Six lenders increase mortgage rates as swaps rise
Bank Of England
Bank of England holds interest rates at 3.75% in narrow 5-4 vote
Interest Rates
Looser Fed policy stance could slow further rate cuts, policymakers warn