Bridging Loan Blog

The Association of Short Term Lenders to hold first conference.

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It has been revealed that ASTL plans this year, to hold its first ever annual conference for the bridging finance and short-term loan industry.

The recognised association plan to undertake the exciting new conference at Butchers’ Hall in London on 10/10/13 (10:30am – 3:30pm) with both direct lenders and brokers involved within the bridging finance market, invited to attend the conference. Cost of entry to the event will be £125.00 per delegate.

The industry regulator FSA will be speaking to delegates at the event along with a district judge, lawyer, broker representative and an expert in finance services. There will also be an overview of the bridging finance sector as well as projections and forecast for the future.

ASTL chief executive Benson Hersch had this to say:
“The ASTL is the sole trade body for short term and bridging lenders. The conference will look at the size and complexity of the market, its potential for growth and the factors that are likely to impact it both in the short term and over the longer term.”

Those interested in the ASTL conference should contact kay@theastl.org for further details.

Applications for Bridging Loans are Increasing

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The Association of Short Term Lenders (ASTL) has announced that there had been an increase in short-term and bridging loan applications in the last quarter of 2012.

The latest figures show The Association of Short Term Lenders approved £283m worth of loans which is a big increase of 6.8%.

bridging finance increase

The applications received totaled a huge £1.3 billion, which was a 23% rise compared to that of the previous quarter.

By the end of December 2012 the loan books were up by 8%, bringing the total value to £1.05 billion.

The chief executive of ASTL Benson Hersch referred to the figures/results as “significant”. He also said that: “They reflect the increased demand I expected and despite some increased bank lending and the effect of the Funding for Lending Scheme, there is still a need for bridging finance.”

“The current quarter has seen steady demand and I expect the next quarter’s figures, which will be published before the end of May, to continue to show a steady increase.”

At the end of September 2012 the loan book totaled £974m and figures for the applications received in the third quarter of 2012 were £1.6 billion, as well as £265m worth of loans being lent out.

 

If you are interested in applying for bridging finance, please do not hesitate to contact us on: 0161 790 8114 – Positive Finance is a privately owned & funded direct lender, with loans from £10k, Rates from 1% and No Broker or Exit Fees.

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