Bridgeshield has become the latest professional organisation to join the Association of Short Term Lenders (ASTL) as an associate member.

Bridgeshield Asset Management provides lenders with a broad range of solutions, from property risk assessment at origination, through to Asset Management and LPA Receivership solutions for when things don’t work out as expected.

With more than a decade of experience working closely with lenders, Bridgeshield invests the time and effort upfront to understand the unique factors of each case, tailoring recommendations to generate the best possible outcome, whether that case moves to receivership, possession or administration.

In line with the ASTL’s code of conduct to promote integrity, Bridgeshield are proud of their constructive and hands-on approach to solving what can be highly complex property issues.

The appointment of Bridgeshield as the ASTL’s latest associate member was announced yesterday at the Association’s first ever virtual Annual Conference, which attracted more than 185 delegates.

Ben Hubbard, Director and founder of Bridgeshield, added:"We recognise that no two clients are the same and that no two cases are the same, and we believe our experience in the short-term lending sector provides reassurance that we understand the need to avoid a ‘production line’ approach. We have a strong track record in recovering distressed loans for our clients across range of asset classes and we are always willing to chat and offer guidance where we can help.”

Nick McAuliffe, Operations Director at Bridgeshield, says: "With the potential for challenging times ahead, retaining professionalism and transparency will be key where borrowers run in to difficulties, sometimes through no fault of their own.

This adherence to diligence and quality service is a value that we share with the ASTL and we are really pleased to join as associate members.”

Vic Jannels, CEO of the ASTL, says“I’m happy to welcome Bridgeshield on board as associate members of the ASTL. We have been quite successful this year at growing our membership with like-minded business that demonstrate a focus on the end customer and this demonstrates just how important it is to have a strong and credible trade body to drive standards and protect the interests of our sector.”

Bridging completions were £470m in Q2 2020, down 56% on Q4 2019, but applications rose slightly in the same period.

This is according to the latest figures compiled by auditors from data provided by members of the Association of Short-Term Lenders (ASTL). The data shows that applications increased by just over 1% in Q2 2020, compared to Q4 2019, while loan books showed a small decrease but remain at £4.5bn. Average LTVs increased slightly in Q2 2020 compare to Q4 2019, but continue to remain at sub 60%.

The Q2 2020 figures for the ASTL Data Survey are being compared to Q4 2019 as the Q1 2020 survey was skipped due to COVID-19 and the national lockdown. The survey also found that the value of loans in default showed a small increase of 5.4% over December 2019.

Vic Jannels, CEO of the ASTL says>: “This was an unusual data survey for a number of reasons and comparing the June 2020 quarter with December 2019 shows a variety of ups and downs. It is difficult to ascertain any real trends at this stage given the impact of lockdown, but at the moment the signs for new business volumes are all positive.

One area of concern is the value of loans in default, which showed a small increase in Q2. It is uncertain how long the economy will be affected by COVID-19 and it is possible that the situation regarding defaults could worsen, particularly given the enforcement moratorium and delays that lenders are facing with collections activity.”

OFFA has become the latest lender to join the Association of Short Term Lenders (ASTL).

OFFA is the first bridging finance provider in the UK to offer products that are designed in accordance with Islamic and ethical financing principles. It provides residential, commercial, refurbishment and planning bridging loans as well as development finance, and its management team has combined experience of more than 50 years of property finance experience.

Bilal Ahmed from OFFA, says: “Shariah-compliant finance is now an established part of the mainstream UK financial services landscape, used by Muslims and non-Muslims alike. With OFFA, we’ve extended its reach into short-term lending, and are already seeing significant demand as property investors seek alternatives to the high street. As a company that acts in accordance with ethical financing principles, we pride ourselves on being open and transparent in all our dealings and prioritise high quality customer service. So it was a natural fit with us to become members of the ASTL, which promotes these values throughout the industry.”

Vic Jannels, CEO of the ASTL, says: “I’d like to welcome OFFA to the ASTL. As with all of our members, the team at OFFA has demonstrated a customer focus and commitment to upholding and promoting our Code of Conduct, which is a kitemark of quality throughout the industry. I would encourage all brokers seeking a short term lending solution for their clients, to look for ASTL membership as a badge of quality.”

Press Release: Thursday, 30th July 2020

Nivo has become the latest professional organisation to join the Association of Short Term Lenders (ASTL) as an associate member.

FinTech, Nivo, designed its technology solution to meet the needs of specialist lending. Within its convenient messaging network, Nivo simplifies information gathering and checks using a range of fintech tools like biometric identity verification, open banking, advanced e-signing and instant filesharing. It then makes it much easier to progress deals quickly, through seamless data and file transfer and instant messaging with intermediaries.

Nivo becomes the latest associate member to join the ASTL, which will hold its Annual Conference online later this month. The Conference takes place on 22 September and registration is open at www.astlconference.co.uk.

Polly Taylor-Pullen, Business Development at Nivo, says: “At Nivo, we strive to make it as easy as possible for lenders, brokers, and solicitors to deliver a streamlined and paperless loan journey for their customers. Earlier this year, we saw how our solution helped bridging and development lenders during the disruption caused by lockdown and we were really impressed by the industry’s willingness to innovate. We believe we can make a real difference to this market, making things quicker and easier for lenders, intermediaries and customers. We are delighted to join the ASTL as associate members and have the opportunity to support the Conference later in the month.”

Vic Jannels, CEO of the ASTL, says: “I am pleased to welcome Nivo on board as associate members of the ASTL. This year has undoubtedly been difficult for everyone, but we have been able to grow the membership and influence of the ASTL despite this turbulent period. This demonstrates just how important it is to have a strong and credible trade body to drive standards and protect the interests of our sector.”

Mint Bridging has become the latest lender to join the Association of Short Term Lenders (ASTL).

Mint Bridging offers bridging finance for borrowers, developers and investors, with loans available up to £5m for property purchases, developments, auction purchase, business cash flow, investments and more.

Paul Wertheim, Operations Director at Mint Bridging, says: “We join the ASTL at an exciting time in Mint’s journey, as we look to further improve the way we do business in the forthcoming months. Our team at Mint Bridging has more than 100 years of collective lending experience and we have lent on a short-term basis in virtually every scenario which can exist. Success is more than just being experienced though. Success, for us, is as much about building, nurturing and growing relationships with brokers and borrowers, as well as building a sustainable business. These are values that we share with the ASTL and we are very much looking forward to working with Vic and the team to help drive the market in the right direction.”

Vic Jannels, CEO of the ASTL, says: “I’d like to welcome Mint Bridging to the ASTL. Like all of our members, Mint Bridging has demonstrated a customer focus and commitment to high standards that are so important in the development of any healthy market. We are gaining a lot of traction at the ASTL in our conversations with HM Treasury and thought leadership in the industry, and every new member we welcome strengthens our ability to uphold standards and promote the interests of the short term lending sector.”

Press Release: Wednesday, 22nd July 2020

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