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Bridging lender Reditum joins ASTL

by: Heather Greig-Smith
  • 09/05/2017
  • 0
Bridging lender Reditum joins ASTL
Bridging lender Reditum Capital has joined the Association of Short Term Lenders (ASTL).

Reditum lends up to 80% loan-to-value (LTV) for bridging loans from £600,000 to £20m for commercial and residential acquisitions, refinancing and development projects.

The mezzanine and bridging finance lender has arranged more than £350m of funding for real estate and asset-backed transactions and lends up to 70% of gross development value for mezzanine deals.

Tim Mycock, business development director at Reditum said: “We are a global lender and many within the company began their careers as investors or hands-on developers. This means we know all too well the sting that can come with lenders that fail to put the needs of each investor first. That is why being a part of the ASTL is a well valued attribute that we are proud to show our clients.

“With the ASTL now part of our brand identity, our customers and potential clients can know they are dealing with a short term lender that is steadfast to honesty, integrity and impartiality. The ASTL cements our commitment to deals with no hidden fees, protecting our customers against fraud and our dedication to transparency in lending.”

Benson Hersch (pictured), chief executive of the ASTL, added: “The team at Reditum Capital are industry professionals who are well informed about the bridging and mezzanine finance sectors. Its extensive network of contacts, market expertise and its real estate experience as principals should benefit other members of the ASTL.”

He added: “The demand to become a member of the ASTL is not only a clear reflection of the growing role that bridging is playing in today’s market. It also allows the association to continue representing responsible bridging lenders while raising the standards of the bridging industry.”

Reditum is the latest bridging lender to join the ASTL, following new lender Aspen in March.

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