Bridging lending has surpassed £10bn in a year for the first time, with increases in applications, completions and loan book value, the Bridging & Development Lenders Association (BDLA) has revealed.
The figures, compiled by auditors from data provided by members of the BDLA, showed that bridging completions grew to a new record of £2.3bn in the final quarter of 2024, representing a 28.6% increase quarter-on-quarter.
The BDLA said that this helped to drive a 14.4% increase in the size of overall loan books, which have now reached £10.3bn.
The data also showed strong growth in pipeline business, with applications increasing by 3.9% in the fourth quarter to £11.3bn.
Chief executive officer at the BDLA, Vic Jannels, said: "The latest BDLA lending data confirms that bridging and development finance is reaching new heights, with record-breaking figures across completions and loan book sizes.
"This continued growth reflects the increasing recognition among brokers and borrowers of the many advantages that flexible, short-term property finance can offer. Whether it’s facilitating time-sensitive transactions, supporting development projects, or unlocking opportunities that traditional funding cannot, it’s that bridging finance has become an essential tool in the property market and is growing in importance.
"As demand rises, so too does the BDLA’s membership and influence. We are committed to supporting sustainable growth by working with lenders to uphold responsible underwriting, combat fraud, and promote professional development through initiatives such as the Certified Practitioner in Specialist Property Finance (CPSP) accreditation. Our engagement with regulators and policymakers continues to help shape a strong and stable future for the sector."
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