Two new associate members join the ASTL

The announcement means that since enforcing a stricter code of conduct at the beginning of the year, the ASTL has now been augmented by two new full members and four associate members.

Allegiance Insure is an independently owned broking company which advises financial institutions and corporates on a wide range of their insurance cover needs. 

It has also designed a comprehensive crime insurance policy to protect the interest of short-term lenders against losses arising from fraudulent transactions. 

Meanwhile, Moorfields Advisory acts as a restructuring and insolvency specialist providing support to businesses, professional advisers as well as financial institutions in financially distressed situations.

It contains a team which specialises in pursuing personal guarantees on behalf of secured lenders.

Benson Hersch, CEO of the ASTL (pictured above), felt both companies had something distinctive to add to the Association.

“Applications and completions for bridging finance and short-term lending continue to rise. 

“It is, therefore, crucial that we continue to prepare ourselves for further growth and diversification to ensure we remain the first voice of the short-term lending market.

“Allegiance Insure and Moorfields Advisory are joining a number of surveyors, insolvency experts and law firms who continue to support lender members with their expertise and understanding of the short-term lending industry.”

Charles Wintour, founder and director of Allegiance Insure, said it was proud to be recognised by the ASTL and looked forward to working with its members.

“Allegiance has a good knowledge of the short-term lending market and the role insurance cover can [play] in giving lenders the protection they require, as business volumes in this important sector grow.”

Meanwhile, Simon Thomas, partner at Moorfields Advisory, added: “Being an associate member provides us with an even greater familiarity with the issues in the short-term and bridging markets. 

“We are also demonstrating that we are a professional and responsible company that values the growing role that the ASTL is continuing to play in the market.”