Association of Short Term Lenders rebrands with new name

Association of Short Term Lenders rebrands with new name

0:06 AM, 24th June 2024, About 3 months ago

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The Association of Short Term Lenders (ASTL) has a new name from this week when it rebrands as the Bridging & Development Lenders Association (BDLA).

A new website and LinkedIn page will also be unveiled.

The organisation’s chief executive, Vic Jannels, said: “Quite simply, rebranding to The Bridging & Development Lenders Association (BDLA) enables us to better serve the interests of our members and their customers.

“After all, our members are bridging and development lenders and so it makes sense to reference this in our name.”

The bridging and development market

The ASTL was launched in 2008 when the bridging and development market looked different to the one that we know today.

Mr Jannels said: “We have come a long way in developing the size, reputation and influence of our sector since then.

“At the end of the first quarter of this year, for example, the bridging loan books of our members reached a new high of £8.1 billion.”

Last year saw the launch of its Certified Practitioner in Specialist Property Finance (CPSP).

That came about after a joint initiative with the Financial Intermediary & Broker Association (FIBA) and the London Institute of Banking & Finance (LIBF).

Reputation of the specialist finance sector

Mr Jannels says that the CPSP was a stepping stone to help boost standards, increase professionalism and build the reputation of the specialist finance sector.

He added: “Our membership is now growing towards 50 lenders members, and we currently have more than 40 associate members.

“We have big plans to improve the way we report on our market and continue to advance bridging and development lending, championing our sector amongst brokers, customers, policymakers and regulators.

“Rebranding to the BDLA gives us a strong foundation from which to do this.”

Change seen in the sector since its inception

Along with the change seen in the sector since its inception, Mr Jannels says the emergence of unsecured short-term or payday lending and ‘buy now, pay later’ schemes has had an impact.

He explains: “Unlike secured short-term property loans, which can provide a solution for a wide variety of capital requirements and investment, unsecured short-term lending is not associated with property in the same way as mortgages and it makes sense to try and avoid any possible cross-over.

“Given the ever-growing significance and influence of our sector, we think this name change will clearly differentiate and avoid confusion.”

Mr Jannels adds: “Our new name enables us to better represent our membership and the vital role we play in the property market.”


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