{"id":71552,"date":"2018-01-11T11:00:51","date_gmt":"2018-01-11T11:00:51","guid":{"rendered":"https:\/\/uk-bridgingfinance.co.uk\/?p=71552"},"modified":"2018-01-11T11:00:51","modified_gmt":"2018-01-11T11:00:51","slug":"bridging-market-six-predictions-2018","status":"publish","type":"post","link":"https:\/\/uk-bridgingfinance.co.uk\/bridging-market-six-predictions-2018\/","title":{"rendered":"Bridging market: Six predictions for 2018"},"content":{"rendered":"
The bridging market enjoyed a solid performance last year, after achieving gross annual lending of \u00a34.7bn in Q3 2017, according to a recent study.<\/div>\n
\n

The\u00a0West One Bridging Index report<\/a>\u00a0found that gross annualised lending increased from \u00a34.3bn in June to exceed the peak of 2016\u2019s pre-EU referendum high of \u00a34.4bn, with the figure up 10% on the same period in 2016.<\/p>\n

What do we expect to see from the bridging market in 2018?<\/strong><\/p>\n

Richard Tugwell, director at Together, said: \u201cThe Intermediary Mortgage Lenders Association (IMLA) described in its October white paper a \u2018rebirth\u2019 for the specialist lending market, following its impressive growth, particularly in the bridging finance sector.<\/p>\n

\u201cWe fully expect this situation to continue throughout 2018, as high street finance providers shuffle their propositions, meaning an even greater number of borrowers will be unable to access the short-term funding they need.<\/p>\n

\u201cThis growing demand will provide greater opportunities for specialist lenders like Together to highlight a more tailored service \u2013 relying on personal decisions, rather than a computerised approach \u2013 to deliver the best outcome for the customer.<\/p>\n

\u201cIn 2018, we will be forging even stronger relationships with brokers so that \u2013 as rates start to move and customers\u2019 deals come to an end \u2013 we will be able to help even more who are looking for bridging finance, but who may not fit mainstream criteria.\u201d<\/p>\n

Paresh Raja, CEO at Market Financial Solutions, believed that 2018 represented a significant opportunity for bridging to further establish itself as an attractive funding option.<\/p>\n

\u201cAs clarification is obtained as to what Brexit will mean for the UK, it is foreseeable that greater confidence will return to investors.<\/p>\n

\u201cSubsequently, as 2018 progresses, the housing industry could once again return to more substantial patterns of growth, which may spark a rise in real estate investment [and], therefore, bridging demand.<\/p>\n

\u201cApart from the South East and London areas, demand for bridging will also rise in other cities such as Manchester, Liverpool, Leeds and Birmingham, which continued to perform extremely well in 2017 and property investors will continue to tap into this sustainable growth.\u201d<\/p>\n

Gavin Diamond, commercial director of bridging at United Trust Bank (UTB), added: \u201cThe bridging market continues to go from strength to strength, with UTB seeing a record number of cases in 2017.<\/p>\n

\u201c2018 is already off to a busy start and there\u2019s nothing to suggest there will be any let up in activity in the short-to-medium term at least.\u201d<\/p>\n

Jonathan Sealey, CEO at Hope Capital, believed that flexibility would be key for bridging this year and there was no room in the market for the \u2018one-size-fits-all\u2019 approach.<\/p>\n

\u201cLenders need to be flexible and treat every borrower in accordance with their individual needs.<\/p>\n

\u201cThe prospects for lenders from developers seeking finance will increase as the government moves on its plans to get the country building.<\/p>\n

\u201cThe land that has been sitting waiting for development will have to [be] built upon, which means developers may need funding sooner than they might have initially thought.<\/p>\n

\u201cShort-term finance could come into its own to give developers room to move from one project to another.<\/p>\n

\u201cWe saw an increase in applications at the end of 2017 for loans for renovation and refurbishment.<\/p>\n

\u201cThis is a trend that I can see continuing this year as more people \u2013 especially landlords \u2013 look to improve their current position and increase the value of their existing properties.\u201d<\/p>\n

Narinder Khattoare, CEO at Kuflink Bridging, commented: \u201cThe bridging market is coming off a hugely successful 2017 and pipeline business going into January is the best that we at Kuflink have ever seen.<\/p>\n

\u201cCertainly, industry figures from a variety of sources show the continuing growth of the sector and I expect that trend to continue in 2018.<\/p>\n

\u201cDevelopment and refurbishment loans will be growth areas this year and with the news in the cabinet reshuffle that housing \u2013 and by extension the property market \u2013 is now represented at cabinet level, I am confident that the chancellor\u2019s plan to make housebuilding a priority will actually bear fruit.<\/p>\n

\u201cThis can only lead to greater opportunities for advisers with clients associated with the building trade over the next few years.\u201d<\/p>\n

Allegra Penny, relationship manager at Funding 365, also expected the bridging market to continue its growth in 2018.<\/p>\n

\u201cI predict continued growth in investment outside of London as stamp duty continues to bite, but I would imagine this would be at a slow rate.<\/p>\n

\u201cNow we have moved into the second phase of Brexit, there is still much uncertainty and until we know more, this will continue to have an adverse impact on the property market.<\/p>\n

\u201cFinally, moving into 2018, I think we will see continued innovation and competitive offerings within the industry and at Funding 365.\u201d<\/p>\n

Source:\u00a0Bridging and Commercial<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The bridging market enjoyed a solid performance last year, after achieving gross annual lending of \u00a34.7bn in Q3 2017, according to a recent study. The\u00a0West One Bridging Index report\u00a0found that gross annualised lending increased from \u00a34.3bn in June to exceed the peak of 2016\u2019s pre-EU referendum high of \u00a34.4bn, with the figure up 10% on […]<\/p>\n","protected":false},"author":2,"featured_media":71553,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0},"categories":[49],"tags":[159,58,151],"acf":[],"yoast_head":"\nBridging market: Six predictions for 2018 -<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uk-bridgingfinance.co.uk\/bridging-market-six-predictions-2018\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bridging market: Six predictions for 2018\" \/>\n<meta property=\"og:description\" content=\"The bridging market enjoyed a solid performance last year, after achieving gross annual lending of \u00a34.7bn in Q3 2017, according to a recent study. 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