Bridging Indexes
West One Newsletter
April 2013 Index
Mortgage lending has grown at only a fraction of the rate of alternative finance. Gross mortgage lending, as measured by the Council of Mortgage Lenders (CML), was outstripped 51 times over by the growth of short-term secured loans in 2012. The CML estimated a 1.4% annual expansion in gross mortgage lending between 2011 and 2012. This puts gross lending at £143 bn in 2012 – or a 61% decline from 2007 levels. Meanwhile, annual gross bridging lending grew 72% over the same period. In 2012 the bridging industry recorded annual gross lending of £1.57 billion, according to the latest West One Bridging Index. Gross lending expanded by £653 million in a year, from £912 million in 2011.
