News

Bridging loan books reach £8.4bn in Q2

The Bridging and Development Lenders Association (BDLA) reports that bridging loan books reached nearly £8.4 billion in Q2 2024, reflecting a 2.9% rise from £8.1 billion in Q1.

While total applications amounted to £10.2 billion, this represents a 9.9% drop compared to the previous quarter. Of all bridging completions in Q2, £108.2 million were development loans. Additionally, BDLA members issued £335.5 million in non-bridging development loans, bringing total development lending to £443.7 million for the quarter, slightly down from £445.1 million in Q1.

Vic Jannels, the CEO at BDLA says: “The latest lending data from members of the BDLA shows record completions and overall loan book values in the second quarter of 2024, providing further evidence of the continued growth of the bridging and development lending sector.”

“Despite the challenges faced in the broader economic landscape, the significant increase in bridging completions, ongoing growth in loan books and the sustained demand for development loans highlight the vital role our members play in driving property market activity.”

“And the future for our sector looks incredibly positive as the continued success of the Certified Practitioner in Specialist Property Finance (CPSP) demonstrates a growing number of professionals who are committed to demonstrating their expertise through this accreditation.”

This signals a rising demand for specialist lending services, as more clients turn to brokers for expert guidance in the  bridging loan market.