Three major lenders poised for bridging launch

Sarah Davidson

January 11, 2012

Adrian Bloomfield, chief executive of the ASTL, said he knew of three major financial institutions currently mulling entry this year due to the “lucrative opportunities” the sector offers.

He would not confirm which firms had spoken to the ASTL but said they were “well recognised” names and not clearing banks.

He said: “These are not IFAs with £25,000 knocking around to lend. These are serious players with huge sums of money to lend.

“Whether they will decide to launch into the short-term sector I don’t know but it is perceived to be very profitable and lucrative with moderate risk.

“While there are very few opportunities for investors around it is regarded as attractive.”

Bloomfield added that he expected 2012 to be “a very good year” for short-term lenders.

The ASTL confirmed there is currently a waiting list of 10 lenders ready to join the lender trade body.

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