Bridging completions reached £2.5bn, 9.6% higher than Q2.

One in five homeowners has never heard of bridging loans, and 13% do not know how they work.

Investment purchases accounted for 20% of transactions, up from 16% in Q2.

Planning is sought for at least 44 affordable homes on the land.

United Trust Bank (UTB) recently completed a regulated bridging case that highlights how lenders and brokers can manage transactions efficiently, even when AVMs are not available.

The service was used to acquire a residential three-bedroom end-terrace house which will be refurbished and placed on the rental market.

Loan structured at 65% LTV over a nine-month term.

Residential rates start at 0.79% per month up to 65% LTV.

Last month, the lender completed a £6.3 million funding package, supporting a developer with two separate residential projects in Bath and Cheltenham.

Bridge To Term first-year interest rate stands at 1% per month.