With the stamp duty holiday having been extended until the end of September at the earliest, motivation among movers and buyers is high. Particularly among those who were unable to take advantage of the incentives before the first deadline. New research conducted by GetAgent suggests that the average time it takes to successfully sell a home in England has skyrocketed to 295 days. This suggests that even those who put their homes on the market at this early stage may struggle to meet the new stamp duty holiday deadline. An issue which, according to experts, could fuel a spike in demand for short-term financial products like bridging loans.
Bridging loan completions plunged by 28 per cent to £2.9 billion last year, as pandemic disruption took its toll on this form of short-term lending. However, applications for bridging loans lifted by more than 11 per cent compared to the previous year, according to the Association of Short-Term Lenders. The value of