United Trust Bank - Brokers see a bright future for bridging
18 November 2014
Two thirds (66%) of brokers expect the market for bridging and short term secured finance to expand over the next three years. Just 7% of respondents believe the market will contract and the remainder expects it to stay about the same.
The survey, carried out by United Trust Bank, also found that nearly half (49%) of brokers expected to see more new lenders join the sector whilst a third (33%) thought some lenders would fail or withdraw.
The study found that nearly a quarter (23%) of brokers operating in the bridging sector had completed over 20 bridging cases in the last year.
|
Number of bridging cases completed in the last year |
% of Brokers |
|
0 |
2% |
|
1 to 5 |
33% |
|
6 to 10 |
21% |
|
11 to 20 |
21% |
|
Over 20 |
23% |
Alan Margolis, Head of Bridging at United Trust Bank, commented;
“I share the optimism expressed by the majority of respondents. 2014 has been a tremendous year for the Bridging Department and our brokers. The more business we do, the more broker & IFA businesses and lives of borrowers we touch, so that there is a natural momentum generated which will carry us forward into 2015.
Allied to this; the sheer variety of uses and flexibility of these loans combining with the entrepreneurial approach of many of those involved in short term secured lending, makes the short term sector a dynamic market to be involved with. We are very excited about the prospects for 2015 and beyond, and will look to grow our team to meet the growing demand.”
ENDS
