Bridging Lending Reaches Record £1.79 Billion in Q3

Bridging loan lending has continued its record-breaking surge, according to freshly disclosed BDLA data, which show a 2.6% quarterly increase.

According to new data from the Bridging & Development Lenders Association (BDLA), the bridging sector continues to strengthen, with increases in applications, completions, and loan book values in the third quarter compared to the previous quarter.

The results, collected by auditors from data provided by BDLA members, reveal that bridge completions reached a new high of £1.79 billion in the third quarter of this year, a 2.6% rise over the second quarter.

This contributed to a 7.6% growth in the size of total loan books, which have now surpassed £9 billion for the first time, reaching £9.01 billion.

The report also reveals a robust increase in pipeline business, with applications up 6.7% in the third quarter to £10.9 billion.

Vic Jannels, the CEO of the BDLA, had the following to say: