Don’t move, improve!
- Bridging Finance
There’s no getting away from the fact the UK housing market is flat. Whether because of affordability issues, Brexit uncertainty or house prices, there just isn’t a lot of activity at the moment.
Indeed, a report by Lloyds Bank found the number of people who moved home in 2017 fell to 367,000 – down from 705,900 people 10 years ago and 1% less than the previous year. Meanwhile, three in five homeowners claimed moving has become more difficult in the last decade.
However, while homeowners may not be moving, they are improving and bridging finance is helping them to do it. According to the latest Bridging Trends data over a third of all bridging lending in the second quarter of this year was for refurbishment projects – up from just 18% in Q1.
Indeed, funding refurbishment projects was the most popular reason for taking out a bridging loan in April, May and June this year.
To find out how bridging can help you to improve your home, add value or just give you a bit more space contact us today.
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