Roma Finance has reported a 32% rise in bridging over the past quarter.
The specialist property bridging lender said this growth was fuelled by a marked increase in business from self-employed property landlords and developers seeking finance for investment property purchases, renovations and change of use to generate rental income.
Scott Marshall, lending director at Roma Finance, said: “This makes perfect sense in the current market, as property prices remain relatively low, particularly at auctions, and there is a growing awareness by brokers and their clients of bridging finance as a vehicle to build a property portfolio.
“At Roma Finance we have seen this growth in the self-employed property professional at first hand. It’s good to see people capitalising on building a better future for themselves and their families.
“And with the pension pot being available from April 2015, this could further drive a rise in self-employed landlords as people make buy to let a component in their retirement planning.”