November 12, 2012
Bridging lending up 14% in Q3
The pace of growth in the bridging industry picked up in the third quarter, to match longer term trends and reverse a slowdown seen in Q2, according to the latest West One Bridging Index.
On the back of both larger bridging loans and higher volumes, quarterly gross lending grew by 14% from £348m in Q2 to £399m in Q3. Lending in Q3 was 65% higher than the equivalent period in 2011. On a twelve month basis, lending rose 12% from £1.26 billion in the year up to June to £1.42 billion in the year up to September.
This follows a period of slower growth in Q2, and will mean gross lending in the bridging market will hit previous forecasts of £1.5 billion by the end of 2012.