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Avamore increases lending by 35% in 2018

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  • 15/01/2019
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Avamore increases lending by 35% in 2018
Avamore Capital increased its lending volume by 35% in 2018, compared to the previous year, and is aiming to hit £100m in 2019.

 

The lender also said its average loan size jumped by more than 50% over the same period, with a total of 35 deals completed in the year

Avamore said it had managed to close last year with its most successful week and month to date.

Four deals in two days totalling around £9m were completed in the week before Christmas.

The transactions included one for its ‘finish and exit product’ designed for nearly completed schemes.

The lender said it was in good stead to meet its lending target for 2019, with plans to put greater focus on conversion schemes in 2019.

Principal, Nikolay Petkov said: “Avamore is thrilled to have closed 2018 on such a positive note. It’s been an incredible year from closing our largest deal at our lowest rate to finishing the year with our most successful week ever.

“As we head into 2019 the relationships we hold are more important than ever and we are looking forward to deepening and widening our partnerships.

“In addition, we will continue to maintain our high service standards in order to help deals progress and close as efficiently as possible.

“This, combined with prudent underwriting and a selective approach to transactions will help us meet our 2019 lending target of £100m and £150m in 2020.”

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