Commercial News

Quarterly bridging completions up 12.6%: ASTL

Rozi Jones -
19th November 2018
benson hersch astl
"Figures for Q3 2018 show an ongoing year on year upward trend. "

Bridging completions dipped in Q3 but remained 21.2% higher on an annual basis to reach £3.98 billion, according to the latest ASTL figures.

The value of loans written in Q3 saw a small decrease of 0.6% compared to the previous quarter, but rose by 12.6% compared to Q3 2017.

Total loan books rose by 2.1% compared to Q2 and by 16.6% compared to the end of Q3 2017.

On an annualised basis applications are up by 8.9% annually, making up a total of £20.5 billion, but fell by 3.3% on a quarterly basis.

However the ASTL noted that applications tend to be 'unreliable indicators'.

Benson Hersch, CEO of the ASTL, said: “Figures for Q3 2018 show an ongoing year on year upward trend. Our members continue to provide flexible and useful services to customers who require finance for a whole range of purposes. Despite current political and economic uncertainties, lenders are very much doing business as usual.”

Related articles
More from Commercial News