Bridging finance grows to more of intermediary business
Bridging and development finance have become a significant proportion of a broker's business, a new survey of intermediaries by United Trust Bank has shown.
The survey shows that by value, bridging represents 13% of business and development represents 24%. Buy-to-let also represents 13%.
More property millionaires in 2011
There were 21,982 residential properties on the market for £1m or more during the third quarter of 2011 -- 11% higher than in the same period in 2010.
Collectively, they were worth over £48.71bn, which equates to £2.22m per property, but 105 homes were for sale at over £15m.
Nearly half (44%) of £1m-plus properties for sale are in London