Bridging applications, completions and loan books all rebounded in the second quarter of this year, the latest figures from the Association of Short Term Lenders (ASTL) show.

The data, compiled by auditors from data provided by members of the ASTL, reveals that bridging completions were just over £1.2bn in the quarter ending June, an increase of 17.4% on the previous quarter.

Completions have now been more than £1bn for five consecutive quarters.

Bridging applications increased to £7.5bn, an increase of 18.7% compared to the quarter that ended March this year, and the size of loan books has also gone up, reaching a new high of just under £6.1bn.

ASTL chief executive Vic Jannels says the value of loan books reaching a record level of more than £6bn, demonstrates “the resilient nature of this market, which continues to grow and mature, attracting a wider number of customers”.

“However, there is reason for caution. The value of loans has started to rise, as have repossessions, and in the current economic climate, it is vital that bridging lenders continue to operate in a way that is responsible and sustainable.”