Our latest Propp Report breaks down exactly what moved across Bridging, Buy-to-Let and Commercial finance at the end of 2025 – using real investor search data from inside Propp.
What Actually Happened in Specialist Property Finance
Q4 didn’t slow down.
It recalibrated.
The Big Picture
Yes, total specialist finance searches dipped 12%.
That’s seasonal. It happens every year.
But here’s what actually matters:
- Bridging searches down 19% vs Q3
- Commercial steady, slight softening
- Buy-to-Let? More than doubled
While volumes eased in some sectors, leverage increased across the board.
That’s not retreat.
That’s repositioning.
Bridging Finance – Lower Volume, Stronger Intent
Searches dipped.
Confidence didn’t.
- Average LTV up: 65% → 70%
- Average loan size up: £381k → £393k
- Average rate eased: 0.86% → 0.82%
Borrowers are leaning back into leverage as pricing improves.
Unregulated bridging took 59% share – largely driven by time-sensitive purchases before Christmas. When speed matters, bridging still delivers.
This wasn’t a quiet quarter.
It was a strategic one.
Want to see what bridging looks like right now? Compare bridging rates here.
Commercial Finance – Investment Still Leads
Commercial softened slightly, but the structure tells the story:
- 73% investment-led
- 27% owner-occupied
- Average LTV up: 62% → 68%
Semi-commercial topped activity. Retail followed closely.
Investors still value blended income.
They still value physical assets.
They’re just structuring them more carefully.
We’re also seeing more first-time commercial borrowers entering at lower loan sizes – a quiet signal that confidence is rebuilding.
Thinking commercial purchase or refinance? You can compare options here.
Buy-to-Let – The Standout
BTL didn’t just grow.
It surged.
- Searches: 10,223 → 23,870
- Average loan size: £345k → £585k
- Average rate: 4.89% → 4.76%
Limited company investors are actively reshaping portfolios.
Releasing capital.
Refinancing.
Repositioning.
And strategy is shifting:
- Holiday lets
- Council contracts
- Longer-term leases
The focus? Stable income. Predictable cash flow. Smarter portfolio construction.
Momentum paused briefly around the Budget. It’s already picking back up.
You can review live Buy-to-Let options here.
So, What Does Q4 Really Tell Us?
The market isn’t slowing.
It’s becoming more deliberate.
Loan sizes are increasing.
Leverage is returning.
Pricing is easing.
Investors are moving – just more intentionally.
If you’re planning a purchase, refinance or restructure in Q1, the data matters.
And we’re tracking it every quarter.
If you’d like to talk through what these trends mean for you, speak to the team. We’re here to help.
Call us on 01489 346 788, or email us at hello@propp.io.
