• Brokers expect gross bridging lending to hit £2.7 billion in 2014
• Bridging industry set for fresh record – with gross lending set to grow by a third in 2014
• Intermediaries expect even lower rates on bridging loans in the New Year
Gross bridging lending in the UK is expected to surpass £2.7 billion over the course of 2014, according to a survey of over 250 financial intermediaries.
This represents annual growth of a third (33%), bringing the industry to a new record high, according to the latest West One Broker Sentiment Survey.
Expansion will bring gross bridging lending to over £2.7 billion over the course of 2014, after gross lending of £1.93 billion in the twelve months to 1st November.
Lending in 2014 will be more than three times greater than total lending in 2011, when gross bridging lending totalled £0.91 billion.
Duncan Kreeger, director at West…
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