There are without doubt more mortgage products available in the residential housing market today. This may have contributed to the small increase in house prices over the last 3 months as reported by the Halifax & Nationwide.
As bridging lenders products tend to follow the mortgage market any changes from their perspective can be a forward indicator. We note the following news from the bridging loan market:-
- A recent broker survey noted an upward trend for bridging loans.
- One of our funders has expressed an interest in financing small, niche property development projects.
- Another lender has recently raised £75m of capital for new lending.
- Finally, one lender has reported a 100% increase in actual lending over recent months.
There is obviously a long way to go before the inevitable recovery, but maybe we have reached a turning point.
