Recent research carried out amongst brokers by United Trust Bank, has revealed that 64% expect the general upturn in the property market to increase demand for short term bridging loans. 33% expected no change and just a very small percentage thought that demand would fall.
The majority of brokers were upbeat about the prospects for their businesses this year with 81% expecting to grow in 2014.
Alan Margolis, Head of Bridging at United Trust Bank commented;
“Brokers’ expectation that demand for short term bridging finance will increase with the general upturn in the property market is supported by our own experience. January is usually a quieter month, but so far this year it’s been exceptionally busy and we’ve issued a record number of Decisions in Principle for the period.
“An active housing market, increased confidence in the economy and a positive business sentiment, combined with our highly competitive bridging interest rates means our short term loans have become ever more appealing and useful in a wide range of circumstances.
“Building on the success of last year where we won the NACFB “Short Term Lender of the Year” award, we expect 2014 to be another very successful year for our Bridging Department as we continue to provide fast and flexible property financing solutions to brokers and their clients.”