January 23, 2012
West One Loans is in the news again following the published results of our latest Broker Survey. The poll, conducted through November and December 2011, was aimed at unearthing brokers short term loan business predictions for the coming year; the number of deals they were expecting to write, their views on LTVs and how they expected the market rates to pan out for borrowers and buy to let landlords.
The headline results are that in general, brokers expect to write 27% more business in 2012, whilst the brokers who specialise in bridging and short term finance expect the numbers to increase by as much as 33%. One in ten said the volume they have written has more than doubled in the last year.
Only 14% of brokers said LTVs on bridging loans were likely to fall over the next six months, reflecting the strong demand by borrowers for more highly geared products. 36% said LTVs would rise next year, and just under half (49%) predicted they won’t change.
There was also positive news for borrowers and buy-to-let landlords on rates, with two-thirds (67%) of brokers predicting the average rate on a bridging loan will either hold steady or fall in the next six months.
Coverage on the broker poll appeared in Mortgage Introducer, Mortgage Strategy, Mortgage Finance Gazette, My Introducer, The Bridging Loan Directory and Introducer Today.
To read the official press release please click here