Borro upgrades ASTL membership

Borro upgrades ASTL membership

Specialist asset lender Borro has upgraded its membership to become a full member of the Association of Short Term Lenders (ASTL).

Borro had been an associate member of ASTL since 2012, but has upgraded its membership following its entry into the short-term residential property loan market in August 2015.

Paul Aitken, Founder and CEO of Borro, said: “We are continuing to establish our growing reputation in the bridging market and, since adding property lending to our product suite, we have upgraded to full member status of the ASTL, highlighting our commitment to offering high service levels for lending on property and luxury assets.

“Our own principles and standards are aligned with the ASTL’s, and our ongoing relationship with the thriving trade body allows us to be part of a shared industry voice, helping to improve standards in the market and shape change for the good of the whole of the bridging industry.”

The news comes less than two months after Borro was ranked 20th in The Sunday Times Heathrow SME Export Track 100.

Since 2011, the firm has funded more than £170m in loans, over 75% of which are completed within 24 hours of valuation.

Benson Hersch, Chief Executive of the ASTL, added: “I am sure that the award-winning lender will continue to make a valuable contribution to the ASTL.

“Achieving full member status demonstrates Borro’s professional achievement as well as its market knowledge and experience.

“The ASTL continues to strengthen its ever-growing commitment to the industry by best serving clients by adding value to members and associate members, while also raising standards in the bridging sector.”

Founded in 2008, the ASTL currently has 36 full members and 25 associates.

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