The latest Bridging Trends data reveals that Q3 2024 marked a significant period of growth and efficiency in the bridging finance market. Despite the traditional summer slowdown, lenders experienced a notable uptick in lending volumes, coupled with a significant improvement in operational efficiency.
MT Finance compiles Bridging Trends, a quarterly index that compiles data from 12 of the UK’s leading finance brokers. In Q3, the contributors recorded faster completion times, increased lending volumes with contributor gross lending hitting £220.8million.
Here is a breakdown of the key trends:
- Faster completion time: in Q3, the average completion time fell to a record low of 46 days, down from 52 days in Q2 – marking the fastest turnaround time since Q2 2019. This steady growth is a positive sign that signals improvement in operational efficiency, reflecting lenders commitment to streamlining processes as they leverage technology to significantly enhance efficiency, instilling confidence in both borrowers and investors.
- Increased lending volumes: in Q3, the market witnessed a surge in lending activity, with a 9% increase in gross lending during what is traditionally considered a quieter period. This speaks volumes about the market’s underlying strength and adaptability driven by robust investor demand and a favourable economic climate.
- Diversification of loan purposes: beyond traditional property purchase and refurbishment, bridging finance was used for a wider range of purposes, including business expansion and investment purchases. This indicates high investor activity highlighting a growing appetite for property investment.
Bridging the gap; how MT Finance can help
As the bridging finance market continues to evolve, MT Finance is positioned to meet the needs of the market. We offer a range of bridging loan options, including those specifically tailored for investment purchases, ensuring your clients can capitalise on opportunities as they arise.
Get in touch
If you’d like to find out more about how we can support your client, we can help. You can submit a case enquiry online, via this form, email us at enquiries@mt-finance.com, or speak directly with your BDM.
Bridging Trends combines bridging loan completions from several specialist finance packagers operating within the UK bridging market: AFIG, Brightstar Financial, Capital B, Clever Lending, Clifton Private Finance, Complete FS, Enness, Impact Specialist Finance, LDNfinance, Optimum Commercial, Sirius Group, and UK Property Finance. The data for top broker criteria searches is supplied by Knowledge Bank.