The record month comes in the immediate wake of the recent appointments to the AOBP Executive Committee, as four of its members were replaced with Wayne Smethurst of The Finance Centre, Russell Martin of Finance 4 Business, Graham Allen of Commercial Money Matters and Mike Hue of Embassy Financial Services.
As a result, the report has shown a discernible shift in the Association’s preferred lenders.
A total of 13 packagers, all members of the AOBP, submitted figures detailing their completed bridging business for the month of September.
Precise Mortgages headed up the table for the first time in the report’s history, lending £5,708,000 through AOBP packagers and accounting for 17.86 per cent of cases completed with the Association’s panel.
West One Loans recorded £4,045,000 of gross lending, though only made up 3.57 per cent of the total volume of cases undertaken, implying that their lending consisted of high-value loans.
Masthaven Bridging Finance completed 8.14 per cent of the total lent, lending out £2,243,000 in September.
The Association’s members also placed a steadily increasing proportion of regulated business: 17.86 per cent of cases, compared with 11.11 per cent in May, were fully-regulated in September.
Other than the re-emergence of Alternative Bridging Coporation, the panel of lenders examined remained consistent with those in the AOBP’s Market Report from this summer, which revealed that Association packagers had placed £46 million of bridging deals from June to August.
Since then, both Shawbrook Bank and Dragonfly have fallen way from the pack - when considering the total amount leant - despite the latter announcing that it had surpassed £200 million of redemptions last month.
A further survey of the firms featured found that fewer than half offer bridging finance alone, suggesting that many of their total gross associated lending figures are not solely attributable to short-term products.
Table to show regulated v unregulated cases during September 2012*
* The results shown above are calculated using a significant data set of the AOBP members and are processed by independent auditors. The results are based on a sample data set of the short term lending market and are in no way representative of the short term industry as a whole.
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