Brickflow released its Q3 market watch report, which found commercial loan searches on the platform went up compared to the previous quarter.
From July to September, commercial searches were up 6.3% to 1,059, while development searches were down 9.9% to 1,990.
There were 3,286 bridging user searches, down 0.2% from Q2.
Decisions in principle (DIPs) for commercial loans rose by 26.5%, and the total loan value offered hit £192.2m, with the largest single loan at £15.2m.
The quickest DIP was provided in three minutes.
Average commercial and bridging loan interest rates increased by about 1% but stayed largely stable, showing a period of rate normalisation.
For bridging finance in Q3, the smallest loan available was £25,000, and the largest was £150m.
The smallest loan offered was £32,625, with a total of £192,204,119 in gross loans offered.
Interest rates ranged from 7.19% to 24.6%, with an average of 12.23%.
Fixed rates were offered by 78% of lenders.
For commercial mortgages, the smallest loan available was £30,000, and the largest was £250m.
The smallest loan offered was £91,830, with a total of £10,701,579 in gross loans offered.
Interest rates ranged from 5.7% to 13.2%, with an average of 8.2%.
Fixed rates were offered by 68% of lenders.
In development finance, the smallest loan available was £75,000, and the largest was £300m.
The smallest loan offered was £500,000, with a total of £363,549,439 in gross loans offered.
Interest rates ranged from 8.75% to 14.25%, with an average of 11.5%.
Fixed rates were offered by 26% of lenders.
Five new lenders joined Brickflow in Q3, including Metro Bank.
Brickflow also introduced a lender secondary market, allowing lenders to see and engage with opportunities outside their direct network.
Appraisal times were shortened, making broker workflows quicker for deal comparisons.
