Brokers optimistic about 2022 bridging business

The survey asked 100 brokers whether they anticipate writing more business in 2022. 84% responded in the positive, and just 14% in the negative.

It also asked respondents whether permitted development would allow for more lending, and 74% thought it would. However, almost 75% of brokers conceded that less than a quarter have actually asked for permitted development-compatible financing.

A further 60% of brokers highlighted the placement of higher loan-to-value (LTV) cases as their most prominent obstacle in processing additional bridging business. A lower number of 37% said it was securing finance for foreign nationals.

The data emerges following a study by the Association of Short Term Lenders (ASTL) showing bridging loan valuations hitting a record £1.2bn in Q4 2021. This was an increase of 19% in Q3 2021.

Nick Hilton, managing director of Glenhawk, said that the findings attune with “the exceptionally high levels of enquiries we have generated so far this year”, as post-pandemic market opportunities grow.