ASTL welcomes Avamore as newest member

ASTL welcomes Avamore as newest member




The Association of Short Term Lenders has announced that Avamore Capital has become a member, bringing the total number of members to 35, along with 25 other associate members.

The short-term finance specialist provides funding for developers and property entrepreneurs, including bridging and mezzanine finance.

Michael Dean, Principal at Avamore Capital, believes joining ASTL has been a ‘positive step’. “As well as sharing our ideas and knowledge with other members, we look forward to being part of a trade body which has established itself as being the first voice of the short-term lending market.”

“Joining the association is an affirmation that we are applying best practice to absolutely everything we do to ensure the highest standards of lending activity are achieved, and we hope this will give brokers even more confidence in our abilities to deliver for their clients.”

Benson Hersch, chief executive of the ASTL said: “Since April 2011, when there were 18 lender members, the ASTL has continued to grow year on year. This suggests that an increasing amount of lenders are seeing the value of the association.

“It is positive to see that more lenders are choosing to set themselves apart by committing to operate according to a set of standards and ethics in order to give confidence to clients and brokers alike. 

“Avamore Capital is a welcome addition to the association and its core values of transparency, integrity and innovation are in line with the ASTL’s, and we look forward to receiving its input.”

This news follows previous reports that annual gross bridging lending reached £125.35 million in Q1 earlier this year, an annual increase of 56%.

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