Shawbrook has become a member of the Association of Short Term Lenders (ASTL).
The challenger bank’s admission takes the number of ASTL members to 34 alongside its 23 associate members.
Karen Bennett, Sales and Marketing Director at Shawbrook, said: “We entered the short-term market shortly after our launch five years ago.
“In that time we have seen the ASTL go from strength to strength working hard to raise standards in the bridging industry, and we were delighted to see the addition of the MCOB (Mortgages Conduct of Business) inducement rules to the Code of Conduct in 2015.
“It is testament to their success that we are now happy to join the organisation, confident that we will be meeting with a number of like-minded lenders working together to raise the profile of the sector and the valuable role that it plays in today’s lending market.”
The news comes after the ASTL revealed that bridging loans written by its members were up 14% in 2015.
Benson Hersch, Chief Executive at ASTL, said: “Shawbrook has an excellent reputation in the bridging industry.
“It has stood out as a genuine challenger bank, not only in bridging but increasingly in more mainstream areas of lending too and we are very pleased to welcome them as a member.
“Similarly to the ASTL, Shawbrook understands the importance of building strong relationships with brokers, clients and other business partners while ensuring the highest industry standards are adhered to.”
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