Bridging Loans Trade Body On The Cards
It is looking likely that a new trade body for bridging loans could be launched before the end of 2007 according to Bridging Loans.co.uk. The Council of Mortgage Lenders have supported proposals for such a body and there is a lot of support from major lenders in the industry.
The Bridging Loans sector has grown massively over the past years with increases of up 16% per annum visible. Estimated figures of the industry being worth up to £1.5 billion have been announced. Simon Jones from Bridging Loans .co.uk says, "It is only right that an industry that has reached the level that bridging loans have should have a trade body. My hope is that prominent leaders from the major players in this market will step up to the mark to set down standards that we all can adhere to."