UK Property

It said demand had been supported by a more difficult operating environment for borrowers and intermediaries. Inflation, higher borrowing costs, uncertainty over the Bank of England base rate and geopolitical risks have made transactions harder to complete. According to the lender, these pressures had led to longer transaction times, less certain completion dates and a greater need for borrowers to adjust plans during the process. Bridging loans are being used for a wider range of purposes, including chain breaks, time-sensitive purchases, refinancing and refurbishment funding. The lender said this reflected...