Word On The Street has achieved a remarkable milestone by arranging £108 million in property finance over the past year, marking a significant shift in the UK mortgage market. This achievement highlights the firm’s resilience amid ongoing economic challenges and reflects a growing demand for various types of property financing.
What types of financing were arranged?
The firm’s impressive total comprised a diverse range of financing options: 130 buy-to-let (BTL) cases, 82 bridging loans, 16 development finance projects, and 11 commercial mortgage cases. The average loan size was £462,637, indicating a robust appetite for property investment and development in the current market.
Why is this growth significant for the mortgage market?
This growth is noteworthy as it represents a 130% year-on-year increase in the number of cases facilitated by Word On The Street. The 62% rise in the total value of business reflects a broader trend in the mortgage market, where investors and landlords are increasingly seeking tailored financing solutions. With total revenue hitting £1.8 million, the firm has demonstrated that there is still substantial activity in property finance despite external economic pressures.
What this means for landlords and investors
The surge in property finance arranged by Word On The Street signals a positive outlook for landlords and investors. With various financing options available, including BTL and bridging loans, there is potential for growth in property portfolios. Investors should consider this trend as a signal to explore financing opportunities that align with their investment strategies. Additionally, brokers can use these insights to better serve clients seeking diverse mortgage solutions.
Frequently asked questions
What factors contributed to the growth in property finance?
The growth can be attributed to a strong demand for diverse financing options, as well as the firm’s ability to navigate challenges in the market without distraction.
How can I take advantage of these financing trends?
Landlords and investors should explore various financing options, such as buy-to-let and bridging loans, to enhance their property portfolios and take advantage of market opportunities.