Below is an update from West One, the Bridging, BTL, Commercial, and Seconds Mortgage lender, that you can access via our specialist mortgage team. Contact our team today for more information.
Announcement
The latest analysis by West One Loans, has revealed that there has been a significant increase in bridging market activity driven by homebuyers and sellers are looking to avoid a chain-breaks.
Collapsed property transactions cost an estimated £275.5 million during the first quarter of 2024, equating to 78,855 failed property transaction in the UK, a rise of 27.9% when compared to Q1 2024.
Largely attributed to increased market activity as confidence has returned, though the uncertainty surrounding the 31st stamp duty deadlines also likely contributed to transaction volatility.