Please Note: This Article is 7 years old. This increases the likelihood that some or all of it's content is now outdated.

In the first half of 2013, Positive Bridging Finance has seen a rise in the number of landlords and property investors applying for bridging finance of over 32%, compared with the same period in 2012, and the firm expects this trend to continue during the remainder of 2013.

The firm’s uplift in bridging finance for landlords and property investors has been for a range of property types including single dwellings, flats, HMOs, student lets and multi-units, as well as mixed use and commercial properties.  The average bridging loan value over the last 12 months has been £220,000 taken over a 6 month period.

John Waddicker, Director of Positive Bridging Finance commented: “According to the most recent quarterly lending figures from the Bank of England, UK bank exposure to property (the proportion of lending to property as a percentage of total lending) remained stable in the first quarter, at 8.2 per cent of all debt. Commercial property lending has remained broadly flat, as a result of growing appetite from lenders to finance prime real estate across a range of sectors.

“We know how difficult it has been for many landlords and property investors to secure finance from their banks over the last few years. The banks are just not lending to landlords and property investors as they did pre-recession and this is mainly down to the strict lending criteria and conditions that are attached to loans, which so often put off borrowers from taking out a loan with a bank, if indeed they still have access to high street finance.

- Advertisement -

“Bridging finance gives breathing room to make alternative arrangements, and can be used as an ‘ad hoc’ facility for certain circumstances (i.e. auction purchase), as and when required, provided an exit strategy is formulated. As the high street banks shy away from speculative property purchase and investment, bridging finance lenders open their arms and welcome such activity.”

For further information please visit Positivebridgingfinance.co.uk or call 0161 763 0321.

Please Note: This Article is 7 years old. This increases the likelihood that some or all of it's content is now outdated.
Subscribe to LandlordZONE

LEAVE A REPLY

Please enter your comment!
Please enter your name here