National Association of Commercial Finance Brokers (NACFB) members were instrumental in the bridging and development finance sector’s expansion last year.
During the 2010/11 tax year, according to its latest Annual Report & Accounts, members of the NACFB arranged £2.84 billion in bridging and development finance loans, more than double the amount arranged in the previous tax year (£1.36 billion).
This growth reflected in lending volumes at Dragonfly Property Finance. Compared to 2010, the number of completions at Dragonfly during 2011 was 48% higher by number of loans and 58% higher by value of loans.
Compared to the first two months of 2011, completions in January and February 2012 were up 41% by number of loans and 40% by value of loans.
Adam Tyler, chief executive of the NACFB, said: “The bridging and development finance sector has come on in leaps and bounds in the past two to three years and there’s no doubt that specialist lenders have seized the day. New entrants have introduced both rate competition and innovation