The Association of Short-Term Lenders (ASTL) has announced that Colenko has become its latest lender member.
Colenko provides bridging loans and development finance for property investors and developers, with a senior team that has delivered more than £1bn in secured finance over the last 20 years.
Firms that join the ASTL typically work in the bridging and secured loan sectors and provide short-term loans and mortgages, often ranging between six months to a year.
Members of the association must abide by a code of conduct which requires them to disclose costs and fees up front with no small print or misrepresentation of product offerings, and not charge non-refundable fees which could be perceived as being excessive.
CEO of the ASTL, Vic Jannels, commented: “I’m very pleased to welcome Colenko as the latest lender to join the ASTL. With the launch of the Certified Practitioner in Specialist Property Finance (CPSP), this is a pivotal year for the bridging sector and, as an association, we have continued to grow our membership.
“This helps to give us a stronger voice in promoting the sector, engaging with policy makers and delivering new initiatives to uphold standards.”
Colenko CEO, Rob Roscoe, added: “We have a strong set of values, centred around giving our customers the best experience, and this aligns closely with the principles that underpin the ASTL. We’re delighted to become members and look forward to helping support its work in advancing the reputation of the sector.”
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