Welcome to the March edition of the Dee Commercial Finance newsletter!
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Landlords focus purchase activity on secondary towns and cities
Buy-to-let landlords purchasing in urban areas are increasingly targeting smaller, secondary towns and cities, analysis from Paragon Bank has revealed. Data from Paragon’s own lending activity revealed a strong increase in completions in city and town centre postcodes during 2021, up 100% on 2020. The strongest increases were seen in locations outside of the UK’s major city centres.
Government urged to support more developers
The government’s Levelling Up Home Building Fund is unlikely to provide enough funding to provide loans to all of the nation’s small and medium-sized developers, according to research from Sirius Property Finance.
Bridging market hits record growth in Q4 2021
The latest ASTL data shows a record period for bridging lending in the last quarter of 2021, with completions and applications both reaching an all-time high. The figures, compiled by auditors from data provided by members of the Association of Short-Term Lenders, show bridging applications reached a record high of £12.7bn in the quarter ending December 2021 – an increase of 65.4% on the previous quarter, which itself was a record period at the time.
SMEs more focused on growth in Q4 2021
Its most recent SME Expert Report — based on data from brokers who collectively submitted over 3500 applications for unsecured finance for SME clients across the UK in December 2021 — showed that 45% of respondents cited growth as SMEs’ primary focus in Q4.
