Bridging loan books has surpassed £10bn for the first time fuelled by rises in applications, completions and loan book values.
According to the latest figures for Q4 from the Bridging & Development Lenders Association (BDLA), bridging loan books of members reached £10.3bn, a 14.4% rise on the prior quarter and 35.3% up on Q4 2023.
Bridging completions rose to £2.3bn in Q4 2024, a 28.6% increase on the prior quarter and 36.4% up on the same period last year.
Applications during the period hit £11.3bn, which is 3.9% up on the previous period and 17.4% higher than Q4 last year.
Vic Jannels, CEO of the BDLA, 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. Bridging completions surged to £2.30bn, a remarkable 28.6% increase from the previous quarter, while total loan book values have now exceeded £10bn for the first time, reaching £10.30bn – a 14.4% rise.
“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.”
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He continued: “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.
“With more lenders, brokers, and borrowers engaging with the sector, we look forward to driving industry standards higher and ensuring that specialist property finance continues to thrive for the benefit of both lenders and their customers.”
