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Bridging loan books grow by nearly 20% in 2019

Bridging loan books grew to £4.5billion in 2019, an increase of 19.7% compared to 2018.

This is according to figures compiled by auditors from data provided by members of the Association of Short-Term Lenders (ASTL), which confirmed that completions in Q4 2019 reached £1.068 billion – an increase of 13.7% on Q3, while average LTVs continued to remain below 60%.

However, applications in the final quarter of 2019 fell by 10.7% on the record-breaking previous quarter.
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TFG Capital joins The Association of Short Term Lenders

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

TFG Capital was set up in August 2014 to provide funding to companies and high net worth individuals, has advanced more than £90m in loans since its inception and continues to support businesses across the UK daily.

As part of its membership of the ASTL, TFG Capital has signed up to the association’s Code of Conduct, which includes treating customers fairly and requires that all fees are proportionate and openly disclosed.
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ASTL appoints 2 new Directors

The Association of Short Term Lenders (ASTL) has announced the appointment of two new Directors to its board, following a rigorous process of election by its member firms.

Alan Margolis, Director of Bridging at Masthaven Bank, and Scott Marshall, Managing Director of Roma Finance have both been voted onto the Executive Committee of the ASTL with immediate effect. The elected Directors will serve as Executive Committee members of the ASTL, acting as a guiding influence to provide direction and decision-making for the Association.
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Bridging Vat joins The Association of Short Term Lenders

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

Bridging Vat is a specialist lender advancing short terms loans for the VAT due on commercial property purchases, and provides clients with an in-depth level of expertise in both the funding and recovery of VAT.

It becomes the latest lender to join the ASTL as part of its commitment to transparency, professionalism and treating customers fairly.
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Looking to opportunities beyond the uncertainty

One of the defining comments about the current situation has come from Chancellor of the Exchequer, Rishi Sunak, who said during one of his statements:

“When this is over, and it will be over, we want to look back at this moment and remember the many small acts of kindness done by us and to us. We want to look back this time and remember how we thought first of others and acted with decency. We want to look back on this time and remember how, in the face of a generation-defining moment, we undertook a collective national effort – and we stood together.”
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Lightfoots Solicitors joins The Association of Short Term Lenders

Lightfoots Solicitors has become the latest professional organisation to become an associate member of the Association of Short Term Lenders (ASTL).

Established more than 150 years ago, Lightfoots Solicitors provides a full range of traditional legal services from its offices in Thame to private clients and businesses throughout Oxfordshire, Berkshire & Buckinghamshire.
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Bridging is primed to bounce back

What a difference a month can make. I am writing this at the beginning of April, with the UK in lockdown and the global economy in the grip of COVID 19. Just a month previously, we knew that Coronavirus was something to be taken seriously, but we had no expectation of what a crippling impact it would have in such a short period.

At the ASTL we undertook our regular quarterly members sentiment survey shortly after the Budget on 11 March. At the time, the Bank of England cut the Base Rate to 0.5% on the morning of the Budget and the headline announcements from the Chancellor all related to the steps the government was taking to help people through the pandemic. It was unsurprising therefore that the sentiment survey recognised the potential disruptive threat posed by Coronavirus. When asked whether they were concerned whether the Coronavirus outbreak would affect their business negatively, 67% of respondents said that they were.
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The role of packagers in the bridging market

Given my involvement in both specialist distribution and the Association of Short Term Lenders, I was perhaps an obvious candidate to comment on the role of packagers in the bridging market – if only to see how I’d approach it!

To begin with, I would suggest that what is good for the growth and development of the bridging market is also good for packagers as short term lending is rapidly becoming an important element of the specialist lending sector.

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Solutions will be welcome. Once this crisis is over, which of your clients could benefit from bridging finance to help get their plans back on track?

A defining comment on the coronavirus crisis came from chancellor of the exchequer Rishi Sunak, who in a recent statement said: “When this is over, and it will be over, we want to look back at this moment and remember the many small acts of kindness done by us and to us.

“We want to look back… and remember how, in the face of a generation-defining moment, we undertook a collective national effort – and we stood together.”

These are important principles during this very challenging period. But eventually it will pass. When it does, which of your clients could benefit from bridging finance to help get their plans back on track?
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Lawrence Stephens Solicitors joins The Association of Short Term Lenders

Lawrence Stephens Solicitors has become the latest professional organisation to become an associate member of the Association of Short Term Lenders (ASTL).

Lawrence Stephens is a leading law firm with a focus on providing specialist Real Estate and Secured Lending advice, amongst other areas of expertise, which include Corporate and Commercial, Banking and Commercial Litigation. The firm already works on short term lending transactions with members of the ASTL and has been endorsed by the Executive Committee and members.<
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