The latest sentiment survey from the Association of Short Term Lenders (ASTL) revealed that 52% of its members predict slight growth.
Despite this, 78% of members expect their business turnover to grow, with two thirds (63%) expecting the same of the bridging finance sector.
The majority of members (93%), believe that short-term finance to SME housebuilders is an area for growth.
- ASTL members exceed £3.5bn of bridging lending
- Bridging lenders more optimistic about long-term UK economic prospects
- Rental prices rise across UK
Benson Hersch, CEO at the ASTL (pictured above), said: “While I remain cautious about future prospects for the UK in a very uncertain world – in which the economic climate can change overnight – members are confident that they will continue to prosper.”
Member positivity about the long-term prospects of the UK economy has decreased from 50% in December 2017 to 43%.
“The use of bridging as a financial tool, both for property transactions and for other business purposes, is now well established,” Benson added.
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