2013 has been a much better year for the Specialised Lending industry. Whether you are a broker, lender or client, the news continues to be good and this is despite the best attempts of the mainstream media doom-sayers!
Yes, house price indices are important, yes levels of mortgage activity are important and yes increasing the number of FTB to get on to the housing ladder is important! But we hear very little outside of our own trade media about the continued increase in lending for the Secured Loan and Bridging Finance markets.
There has been £227 million of Secured Loans completed in the first half of 2013, with April to June delivering the best quarter's results since 2009.
Whilst many intermediaries are now beginning to get switched on to the incremental streams that can be generated from Specialised Lending, equally so there is still a lot of education needed out there. Secured Loans have changed drastically from their perceived sub-prime image pre-credit crunch.
Loans up to 95% are now available, with rates starting at 5.59% annual rate and ERCs as low as £195. So really the future (and the present) has never looked so bright for our industry.