Avamore hires Masthaven’s former bridging director to senior role

In his role he will lead the firm’s management team, and he will be a board member and credit committee member. He will also manage strategic initiatives and lead commercial aspects of the business.

Prior to joining Avamore, Margolis worked at Masthaven Bank as its credit and operations director, a role he held for nearly two years, before taking on the position of bridging director in 2019.

Before that he was head of bridging at United Trust Bank for nearly seven years and prior to that, ran his own company, Cheval Property Finance.

Avamore’s co-founder and director Zuhair Mirza said: “Under Alan’s leadership, we believe this team will go from strength to strength, and we expect that Avamore’s lending volumes will increase substantially.

“Alan’s appointment is an important step in Avamore’s evolution as the we look to increase market coverage, drive efficiencies and deliver outstanding customer service for our borrowing and broking partners.”

Michael Dean, fellow co-founder of the business, added: “Alan’s experience and knowhow, combined with his shared cultural values make his appointment something for everyone in the company to be really excited about. It is a significant achievement and milestone for the firm to have attracted such an accomplished industry star.”

He added that there were further senior hires to be announced that would “cement our position as a major player in the development and bridging space”.

Avamore has been expanding its team in recent months, hiring Andy Gray to its origination team, where he will focus on the South West region and Tirath Singh to target the Midlands.

It has also grown its underwriting team with Gili Cohen, who previously worked at Pluto Finance.

The firm surpassed £300m in lending earlier this year, and is targeting further growth in the months to come.