Survey shows advisors expecting bridging business increase

April 28, 2024 by Mark

Mortgage Advisors

A new survey of mortgage advisors reveals that over two thirds are anticipating a rise in the number of clients who want bridging loans this year, in comparison to 2023.

This survey comes from Castle Trust Bank Pulse. In total, 68% of the advisors that responded to it said that they think there will be more bridging loan business this year. One quarter of them stated that they expect the increase to be a substantial one, whereas 43% are anticipating a small rise in the amount of bridging loans that they facilitate.

A further 21% of the advisors that took part in the survey – which amounts to one out of every five – indicated that they think demand for this type of loan will stay at the same level. Just 11% of them said they expect a drop in demand for bridging loans during the remainder of this year.

Last year certainly brought rises in bridging business. 42% of the advisors participating in the survey told Castle Trust Bank Pulse that they had dealt with more loans of that type during 2023 than the year before.

The survey also found that brokerages had hired more advisors to deal with the rise in demand for bridging loans. 42% of mortgage brokerages brought in additional mortgage advisors last year specifically to help them cope with that demand.

It is important for those with the CeMAP mortgage advisor qualification to be able to identify areas of the market where demand is on the rise and capitalise on them.