Brokers critical of new entrants to bridging

46% of brokers claim the advent of new lenders into bridging has made a negative impact on the market, according to research from West One Loans.

Almost half of brokers polled said the new entrants hadn’t made any sort of positive impact on the market, while one in four brokers think the impact has been wholly negative.

15% of brokers suggested lenders are rushing into an industry they don’t understand, for short term gain. 11% brokers also said the increasing number of lenders has made writing bridging loans more complicated because of the greater range of criteria between lenders.

Duncan Kreeger, chairman of West One Loans, said: “With the bridging industry performing so well