|New bridging lender is the latest member to join the ASTL|
|Thursday, 16 March 2017|
Aspen Bridging Ltd is the latest member to join the Association of Short Term Lenders (ASTL).
The news comes just weeks after figures from the ASTL revealed that demand for bridging finance soared during the final quarter of 2016 and reached £2.83bn for the year.
Aspen Bridging is a wholly owned subsidiary of S&U Plc. The FTSE listed finance firm has a long history of developing businesses in speciality finance, and over the last ten years has been one of the best performing stocks on the FTSE.
Aspen Bridging is a specialist and independent principal lender that provides unregulated bridging finance for individuals and business owners. Due to substantial analysis and strong foundations, the lender is able to offer up to 80% LTV and up to 100% of purchase price. It combines the traditional aspects of bridging in terms of developing products and solutions, with more modern concepts from its decision in principle capabilities to its approach to property risk.
Benson Hersch, CEO of the ASTL says, “The demand to become a member of the association is continuing to increase. Membership of the ASTL and adherence to its rules should give borrowers and brokers confidence that they are dealing with a responsible and ethical bridging lender who is operating to high standards.
“Aspen Bridging is a reputable lender that aims to add real value to its clients through its supportive and relationship-centric approach to lending. The ASTL welcomes Aspen to the fold.”
Ed Ahrens, managing director of Aspen Bridging says, “We believe in building strong partnerships and want to contribute to the conversations and debates that are happening within the industry. We also want to be associated with well-respected and professional partners and associations, and the ASTL stood out for us.
“We believe that our approach to long term partnerships is perfectly suited to those looking for bridging finance today. We now plan to expand throughout 2017 and we have ambitions to become a significant player in the bridging market.”
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