He explained: "The bridging market is going from strength to strength, with an increasing number of lenders coming to the fore with innovative products, as well as customers being made more aware of its uses and benefits.’"
Similarly, broker Chris Whitney, head of specialist lending at Enness Private Clients, commented that short-term lending has become far more popular, especially as servicing times at high-street banks have proved inadequate.
According to Mr Whitney: "We are seeing more clients ‘bridging’ a transaction but instead of moving the loan, they are preferring to stay with the same lender based on the efficient and timely service they have received from the lender on the initial loan.
"This is even though the rates are higher than the high street names - which are continuing to fall short of client needs and expectations."
To help brokers explain short-term lending and bridging to their clients, the Bridging Trends report team has created a video explaining the trends, which can be viewed online.