6
FIBA
Bridging loans are flexible tool ahead of expected rate falls
COLIN SANDERS Chief Executive Officer , Tuscan Capital
It ’ s an extremely positive time for the bridging loan market . In fact , record numbers of borrowers are benefitting from the flexibility on offer from these products , with the latest figures from the Association of Short-Term Lenders showing loan books have jumped to a new high of £ 7.6 billion for the final quarter of 2023 , up by more than 16 % on the same period of 2022 .
Completions have also risen noticeably , demonstrating the heightened activity levels within the sector currently .
These products have long been recognised as a great option for investors who need to move quickly , for example when purchasing at auction , or if a property needs some work before being sold for a profit .
However , that certainly isn ’ t the limit to the flexibility of bridging loans , with short-term deals becoming an increasingly compelling option for landlords facing a refinancing dilemma .