Benson Hersch, CEO of ASTL, praised Amicus’ announcement of a £100m securitisation of short term property loans.
“This is a great feather in the cap of one of our members and confirmation that institutional investors are taking the short term sector seriously,” said Benson.
“The recent ASTL survey indicated a growth in the sector of 32% in the 12 months to June so the market has every reason to be confident that others will follow the Amicus lead further boosting the potential for even greater growth.”
The announcement follows on from a successful 12 months for Amicus after winning Bridging Lender of the Year at the B&C Awards and the acquisition of Mayfair Bridging and Norton Foldgate.
The securitisation announcement is believed to be the first made up entirely of short term property loans, and Amicus’ Managing Director Keith Aldridge was very proud.
“It is testimony to the efforts of our dedicated staff and to the confidence our funders have in us to deliver our long term growth plans,” said Keith.
“Brokers and the other stakeholders in the sector need to know that the major lenders are planning to secure their future and we believe this increase in our funding strength can only be good for the market as a whole.”
John Jenkins, CEO of Amicus, added that there was clear investor demand for this type of short term mortgage-backed security.
“Many institutions are increasing their focus on the alternative finance sector as a means of enabling enhanced returns without taking on large risks,” added John.
“We anticipate significant growth in demand for short term syndication of this class of debt through bond issuance.”
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