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What grew in 2016 will feed bridging market in 2017

1/6/2017 12:00:00 AM   0 Comments   bridging loans, buy to let

Last year held many positives for the bridging industry for those players with the resources to weather the impact of competition, Brexit and with the flexibility to focus on new areas of financing, according to Brian Rubins, managing director of Alternative Bridging Corporation.

We saw that Brexit did not rock the boat as badly as predicted for most, although a number of bridging lenders ceased taking new business due to a lack of funding at the time. Those lenders that will profit and grow in 2017 will be those able to respond to changing conditions which demand ever faster response times and individual underwriting procedures.

“However, a number of the newer bridging lenders – brokers-turned-lenders – may find they do not have the skills and knowledge to compete successfully and may regret some of their bolder decisions.”

Brian points out that where bridging lenders will benefit will be from the consequences of ongoing bureaucracy among mainstream lenders, which will drive borrowers to bridging loans to satisfy urgent timescales.

“Interest rates will also remain under pressure from brokers, providing an edge for the established, well-funded bridging loan companies. We will also see a growing demand for bridging loan periods beyond 12 months and development finance, which needs a special set of skills that not all lenders may have.

He warns, however, that the market will progress towards greater regulation.

Admin   http://bridgingandcommercial.co.uk/article-desc-11383_what-grew-in-2016-will-feed-bridging-market-in-2017
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