Bridging lenders are buoyant about the market despite the supposed uncertainty surrounding Thursday’s general election, research conducted by the Association of Short Term Lenders has revealed.
Three quarters (73%) of ASTL members said business levels have grown over the last six months, while the same proportion (73%) expects to do even better in 2015.
Just one in five (20%) said business has been negatively impacted by election uncertainty.
Benson Hersch, chief executive of ASTL, said: “Lenders in bridging market remain incredibly positive. The bridging market continues a healthy growth rate in contrast to the mainstream market that has seen setbacks throughout the last six months.
“With the ongoing shortage of supply in housing, purchasers need to make up their minds quickly so bridging finance will come into play for those who’ve not yet sold their existing property.
“As a result of this and a growth in the numbers of property developments, members are recording increased business volumes and this has kept confidence very high throughout the election build up.
“It will be interesting to measure this sentiment again over the next few weeks and months, when we know the results, to see what impact the election had.”
ASTL said bridging has not been affected like the mainstream market when it comes to lending.
Opinion has actually changed for the better, as in November 2014 a third (35%) were sceptical about seeing growth in the market.