An improving economy, greater confidence in the bridging market and the relaxation of the change of use in planning rules can all account for this demand. However, there is an underlying appeal with bridging finance that endures, regardless of economic or regulatory trends. Homebuyers and property investors often struggle to sell their old property in time to secure their next property - bridging loans can offer that essential lifeline and enable families, individuals or investors to ensure they don’t miss out on a property.
In response to demand, Aldermore entered the bridging market on 2nd June this year. Working with Finance 4 Business, who have helped us to ensure a successful delivery to market. Despite being in the market for less than a month, our team have already seen a variety of customers. We have provided our services across a range of customers from portfolio managers to property developers, right through to individual borrowers who are keen to buy a new home. The feedback has so far been very positive; they have welcomed the diversity of bridging products and our long-term offerings that enable them to switch to a residential or commercial product in the future.
There has never been a better time to enter the bridging market. While we have made a strong start, we are even more excited about the future. In response to the growing demand, the market is continuing to mature rapidly.
Big players within the market are increasingly expanding their range of services and the healthy state of the housing market and the wider economy are beginning to challenge the perceived risk attached to some bridging finance solutions. As the market continues to grow we have taken many steps to ensure that our bridging business remains future-proofed. Our team has employed a rigorous schedule of reviews, and we aim to meticulously log any feedback from our wide range of customers. This way, as the bridging market grows we are working to continue providing clients with fast, flexible and transparent short term finance, supporting them all the way through to securing long term finance and beyond.
Attributed to Charles Haresnape, Managing Director, Residential & Commercial Mortgages, Aldermore
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