According to data from Revolution Brokers, 90% of mortgage seekers turned down for finance by banks sourced affordable finance from alternative lenders.
In Q3 2022, bridging loans in the UK totalled £214.7m – marking a 20.3% quarterly increase and a 12.9% annual increase.
The market analysis has revealed that despite recent turbulence, the sum of lending secured across the UK property market is on course to sit two per cent higher than 2021.
Figures show that investing in a high rental demand area will set you back £396,349 on average across England.
Today’s numbers, however, are still considerably lower than 2007’s high point when the global financial crash pushed the average monthly repayment up to £1,355.
Despite the increasing cost of borrowing currently hitting homebuyers across the property market, it still remains less expensive to buy when compared to the cost of renting, according to the latest research from Revolution Brokers.
The average homebuyer has seen the average monthly cost of a variable rate mortgage climb by 13.3% so far this year, even after adjusting for inflation, according to the latest research by Revolution Brokers.
According to research by Revolution Brokers, the monthly cost of repaying a mortgage has seen the second largest annual spike, with only the cost of energy bills increasing at a greater rate.
The research shows that on average, a UK holiday let will pull in a monthly rental income of £972, a 29.4% premium when compared to a regular rental home.
As of July this year, £22.2bn has already been invested into the British commercial property sector, an average monthly total of £3.172bn.
Mortgage holders who fix now will be paying 21.5%, or £162.83 more per month, than those who locked in when rates were at their lowest point last year.
Commercial property landlords are currently averaging yields of 6% across England, climbing as high as 8.6% in some regions.