Archives September 2019

SmartCoin® Benefits hugely from the recent sell off in cryptocurrencies posting 14.8% profit

SmartCoin® posts 14.8% Gains in September as the sell off triggers our short positions.

” After 7 weeks of relative little price movement, we reversed all our bets from long to short positions and these bets turned into hard cash after the hard sell off on Monday. We closed the month with 14.8% gains, and are awaiting signals regarding the movement, we expect a small rebound from this level, followed by another sell off flooring Bitcoin under the 7000 USD mark”

 

Smartcoin® is designed to provide modest returns, this past week highlights the importance of having short positions to buffer any falls in the market. for more information visit


Bridging lending breaks new records in Q2 2019

Bridging loan books grew to a record £4.62bn at the end of the second quarter of this year, representing growth of 11.7% compared to Q1 2019 and an increase of 14.4% on the same quarter last year.

Bridging loan applications also hit a record total in the 12 months preceding the end of Q2 2019, with £22.13bn of applications representing a 9.7% increase on the same period the previous year.

This is according to figures compiled by auditors from data provided by members of the Association of Short-Term Lenders (ASTL), which confirmed that more than £1bn of bridging loans were written in the second quarter of this year, an increase of 11.8% on the previous quarter and a rise of 4.1% on the same period last year.

There were £5.69bn of bridging loan applications in Q2 2019, which is 4% lower than the first quarter of the year but 5.3% more than the same period in 2018.

Benson Hersch, CEO of the ASTL says: “The second quarter of this year has delivered some very strong results for bridging lending, with record values both for applications over a 12-month period and total outstanding loan books. In fact, nearly all measures were higher than last quarter and the same period in 2018. The wider political and economic environment remains uncertain and the challenge for the industry now is to continue this level of activity whilst maintaining high standards of underwriting and customer focus.”

The ASTL Data Survey: Q2 2019

These figures are taken from the responses from ASTL members, which include most of the key lenders in the bridging market.