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22/07/09

Specialist short term lender Bridging Finance Limited has announced that its lending volumes for Q2 2009 were more than double those achieved in Q1, increasing by 107 percent.

A recent Bank of England report has also stated that the availability of corporate credit from mainstream lenders increased slightly during this period, and is set to improve further during the coming months.

Commenting on the growth in lending, Bridging Finance Limited’s MD Chris Baguley explained:

“We’ve seen a rise in the number of attractive investment opportunities that our clients are encountering, particularly in the area of commercial property, which is generating interest thanks to the potential for future yields.  We’re also seeing an increase in the size of individual loans.

“Historically, a significant proportion of our clients for short term funding have been property investors whose appetite to embark on new projects was curtailed by the depressed markets and the lack of funding availability from mainstream lenders.  If access to long term credit improves over the next quarter then we expect to be presented with an increasing number of bankable propositions, as clients will have more options when they need to arrange the exit for their short term facility.

“There is certainly room in the market for some positive speculation, but I think it’s a bit early to join the clamour of voices claiming sight of ‘green shoots’.  Nevertheless, let’s hope that the outbreaks of confidence we are now seeing prove to be as contagious as the pessimism of two years ago and have a positive effect on the flow of credit between the major financial institutions. This remains the most crucial factor in ensuring that any return to growth can be sustained.”

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