Mayfair Bridging look towards 2010 as another record breaking year for bridging finance. Shoaib Bux,” Traditional forms of finance will continue to be very difficult and we will only see a slight improvement for prime borrowers. Even on the occasions where the banks are lending, completion times average atleast 6 weeks. I do not see any improvement whatsoever on the commercial finance arena as LTVs continue to decline and appetite remains diminished.”

”Bridging finance will continue to be a strong product for the right client. Educating brokers and property traders about the benefits of bridging finance is our prime objective for 2010.”

2010 is set to be a tricky year. According to HSBC nearly 85% 0f all commercial mortgages are in default due to breaches in loan to value ratio or the rental coverage required. The majority of banks have not repossessed as this would trigger more repossessions and would certainly result in further losses on their loan books. Instead they have adopted the strategy to roll over the loans for borrowers that still keep up with repayments and hope for the commercial capital values to increase.