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ASTL quarterly results crash through the £3 billion mark! PDF Print E-mail
Monday, 26 February 2018
In positive news for the sector, the final quarter of 2017 saw the first time that quarterly completions for ASTL members exceeded £1 billion.  With annual completions exceeding £3.5 billion, it is clear that business is booming for ASTL members. 

Figures compiled by the ASTL’s auditors from its bridging lender members for Q4 2017 have painted a healthy picture of the sector. The value of loans written for the quarter ending 31 December 2017 revealed an increase of 19.6% compared to the previous quarter. Annual completions rose by 24.6% to over £3.5 billion. In comparison to the same quarter last year, the value of loans written in the quarter has increased by 31.7%.

The size of members’ loan books is also healthy. Total loan books are continuing to climb, with a rise of 4.6% compared to Q3 2017. Compared to the end of Q4 2016, the value of loan books has risen by 12.9%, to £3.7 billion.

However, the quarter did see the pace of increases in applications continue to decrease (11%) compared to Q3 2017. While those on an annualised basis are up 42.6% on the year ended December 2016; making up a total of £18.93 billion. Although applications do tend to be unreliable indicators and are dependent on how many lenders are offered the same deals.

Benson Hersch, CEO of the ASTL says: “Our figures highlight that, despite ongoing concerns relating to Brexit and the property sector, the bridging finance industry remains in good shape and is ready and willing to meet the challenges that 2018 may bring.

“The bridging sector continues to provide a vital role in the economy by offering customers access to the capital they need in a responsible and sustainable way. It continues to be an important part of the alternative finance market.”

These figures are taken from the responses from ASTL members, which include most of the key lenders in the bridging market.

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