The Rising Popularity of the Bridging Loan

The amount and the overall value of bridging loan applications in 2014 reached record levels, rising 63% year-on-year to well over £2 billion. From figures taken from the latest quarterly results from the Association of Short Term Lenders, the value of bridging loans has rocketed by 54% compared to December 2013.
The Association of Short Term Lenders identified that the total value of applications tended to be volatile on a quarter-by-quarter basis. But that there was definitely a significant trend towards an increase in bridging loans. A bridging loan application due to its nature assesses you more on your asset value than loan repayment.
Marcus Reeder of chief executive of AtPledge, said political uncertainty surrounding the general election could cause a “bumpier ride” over the coming months, so bridging was the perfect solution for those needing short term finance, particularly as it would allow time for the political situation to crystallise before any long term financing decisions needed to be made.
Bridging continues to establish itself as an increasingly valuable source of finance, so brokers and intermediaries are far more educated in the uses of the bridging loan, enabling them to supply it to a much wider market. This increased education about the product makes it easier for the borrower to find and to secure when funds are required for a short-term project that requires fast funding.
Bridging loans can be used for any purpose from AtPledge and as always we will not ask you what the money is for, that is completely your business. You just need to have enough security for your loan whether it’s for a holiday, new car or work of art it’s your business not ours.
And remember AtPledge lend when others won’t, we are always here to help you with your financial needs.

For a FREE, no obligation quote call us on 0800 810 1111 or 01604 901101 or contact us online.