Gross lending in the bridging market totalled £822.2m in 2024, according to the latest Bridging Trends data.
The figure was 1% below the historic high of £831m recorded in 2023, making it the second-highest lending volume since 2015.
Bridging Trends is a quarterly publication developed by short-term finance lender, MT Finance, as a method for monitoring the latest trends in the UK bridging finance sector.
In a significant improvement to market efficiency, the average completion time for bridging loans fell by 23% year-on-year, dropping from 58 days in 2023 to 47 days in 2024. According to Bridging Trends, this reduction reflected the increasing maturity of the bridging finance sector, with both lenders and broker introducers demonstrating enhanced operational capabilities and a deeper understanding of the market as bridging becomes more mainstream.
Head of lending – bridging finance at MT Finance, Raphael Benggio, commented: “The 2024 Bridging Trends data paints a picture of a robust, resilient market that continues to adapt and thrive despite external pressures.
“With faster completion times and steady lending volumes, these results show how bridging finance has evolved from an alternative solution to an essential component of the UK property finance landscape.”
Data provided by Knowledge Bank also showed that regulated bridging remained the top criteria search made by UK bridging finance brokers in 2024 and in 2023, reinforcing how bridging is a useful tool for borrowers.
Average loan-to-value levels held steady at 58% in 2024, up marginally from 57% in 2023, which Bridging Trends said indicates responsible lending practices which suggests borrowers are not over-stretching themselves despite rising interest rates. The average term remained at 12 months for the eighth consecutive year, demonstrating consistent market expectations.
Director at Complete FS, Phil Jay, added: “Complete FS experienced a remarkable 60% increase in both regulated and unregulated cases during 2024. This growth reflects the market's increasing demand for rapid completions.
“We’ve adapted by carefully selecting the right lenders who have not only streamlined their processes but also work with efficient legal partners in order to deliver quick and efficient solutions for our clients.”
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