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As one of our brokers you can source client solutions across multiple sectors, submit and track their cases 24/7.
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As one of our brokers you can source client solutions across multiple sectors, submit and track their cases 24/7.
Need to register? Click here to start using our sourcing and case management system
Call us:01277 561 116
2017 was preceded by a long spell of huge growth and this year is no different, but it hasn’t been without a few bumps in the road. The sector suffered a short period where business levels dipped following the referendum, and again after the rate rise, but quickly bounced back on both occasions demonstrating its resilience and ability to adapt.
There have been many new entrants to the market, with a particular focus on the heavy refurb and development markets; this is largely down to the extension of permitted development rights. The rise in refurbishment lending could also be indicative of an increase in desire to improve existing properties rather than move, coupled with the lowest mortgage approval rate on new homes for over a year. Another reason for growth could be that mortgage delays continue to be the leading reason for the use of short term finance.
Overall, there has been a lot of liquidity in the market with fierce competition which has driven rates down even further. The lowest available rate is currently 0.44% pm and the most competitive we’ve ever seen.
Explore the scenarios where short term lending can be useful https://goo.gl/brUFC7
Tell us about your client scenarios: 01277 508956
Or email: helpdesk@brightstarhub.co.uk