LendInvest notes record quarter for signed bridging applications
LendInvest has noted a record quarter for signed bridging applications in Q3 2020.
Signed bridging applications were up 65% between Q3 2019 and Q3 2020, and the firm recorded a 58% increase in the total number in Q2.
LendInvest remained open throughout the period of national lockdown earlier in the year.
Justin Trowse, director for bridging at LendInvest, said: “Our pipeline is a record to date, and with the completion levels increasing month-on-month, we can only see this trend continuing into Q4 as property professionals seek to capitalise on the stamp duty land tax holiday ahead of its current withdrawal date in Spring 2021.”
Leanne Smith, sales director at LendInvest, added: “The team has worked tirelessly over the past six months not only allowing us to remain open for our brokers and borrowers throughout lockdown, but also ensuring those customers received the highest level of service throughout this time.
“Call volumes and new applications are at the highest we have ever experienced and Bridging packaging has improved materially for us internally.
“With new systems and processes constantly being reviewed to manage and improve turnaround times, I am confident that we will be able to meet the increasing demand for property finance over the next couple of months while maintaining the high service levels we currently are.”