The lender has segmented its existing offering into residential bridging, commercial bridging, development finance and bespoke solutions.

Along with this announcement, Avamore has also strengthened its institutional partnerships and intends to offer rates from 8% per annum for its residential development product.

The changes come after the lender conducted feedback sessions with its clients, partners and prospects, and found that the market needed further clarity around exactly what Avamore could offer and who it could service.

The feedback showed a clear need for it to produce a defined matrix for its respective products.

Avamore hopes the introduction of these categories will create clarity around which product would best suit potential borrowers.

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The lender confirmed that it would still offer bespoke and structured loans, alongside its more straightforward bridging and development finance. 

Michael Dean, principal at Avamore Capital (pictured above), hoped that by adding greater clarity around its offering, it would be able to ensure an exceptional Avamore experience as soon as a borrower or broker heard about the lender.

“While we are excited to enter the market with a new price point, every deal which is introduced to Avamore is assessed on a case-by-case basis. 

“We will always take the time to speak to brokers and borrowers and guide them through our product offering to establish which solution is best for them. 

“We are looking forward to strengthening relationships within the market.”

Zuhair Mirza, principal at Avamore, hoped the change would open up new opportunities for it to grow and service a greater proportion of the market.

“Critically, we will retain our proactive and responsive service, while continuing to provide access to a decision maker throughout the underwriting process. 

“We are excited to work with more brokers and developers in the market and look forward to strengthening relationships further.”