Bridging lending has reached record growth surpassing the £10bn mark for the first time as applications, completions and loan book values increase, the Bridging & Development Lenders Association (BDLA) reveals.

The figures show that bridging completions grew to a new record of £2.30bn in the final quarter of 2024, representing a 28.6% increase on the previous quarter.

This helped to drive a 14.4% increase in the size of overall loan books to reach £10.30bn.

The data also shows strong growth in pipeline business, with applications increasing by 3.9% in the fourth quarter to reach £11.30bn.

BDLA chief executive officer Vic Jannels says: “The latest BDLA lending data confirms that bridging and development finance is reaching new heights, with record-breaking figures across completions and loan book sizes.”

“Bridging completions surged to £2.30bn, a remarkable 28.6% increase from the previous quarter, while total loan book values have now exceeded £10bn for the first time, reaching £10.30bn – a 14.4% rise.”

“This continued growth reflects the increasing recognition among brokers and borrowers of the many advantages that flexible, short-term property finance can offer.”

“Whether it’s facilitating time-sensitive transactions, supporting development projects, or unlocking opportunities that traditional funding cannot, it’s that bridging finance has become an essential tool in the property market and is growing in importance.”