simoncraig on 07:03, Jan 4, 2013
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The Council of Mortgage Lenders expected that the banks and other financial institutions may lend 8.3% more in 2013.
According to the recent prediction of the mortgage intermediaries, the bridging industry may grow by 36% by the middle of this year. The bridging industry may grow four times faster than the mainstream mortgage market.
The West One Broker Sentiment Survey states that there has been an annual growth of 65% in the end of the third quarter of 2012.
However, the mainstream market is not growing fast. The bank and other financial institutions are not in a state to lend more due to limitation of funds and capital adequacy rules.
The market is looking for extra funds and even the well conceived investment plans of the small business are completely ignored by the banks. Therefore, the borrowers are looking for various types of alternative sources of finance, for instance bridging loan.