Magnet Capital becomes ASTL member

Magnet Capital, which last year added to its sales team, is a specialist development finance lender and lends up to 55 per cent gross development value (GDV).

Vic Jannels, CEO of the ASTL, said: “I’m very pleased to welcome Magnet Capital as the latest lender to join the ASTL. Development finance is an important element of short-term property lending as it’s the driving force behind SME developers, who play such a key role in delivering the additional housing we so desperately need as a nation.

“Having a diverse mix of lender members enables us to better represent the needs of all lenders in our sector, whatever their particular area of specialism.”

Sam Howard, co-chief executive officer and co-founder of Magnet Capital, said: “Magnet Capital’s experienced team of development finance experts is laser-focused on delivering on what we promise. Our dedication to working with customers aligns with the ASTL’s commitment to high standards and we are delighted to become members of the association”.

Ashley Ilsen, co-chief executive officer and co-founder of the lender, added: “At Magnet Capital, our focus is on consistently delivering the best outcomes for customers, and this aligns with one of the objectives of the ASTL.

“We pride ourselves on being transparent in all of our practices, and this is why we’ve developed such a strong brand in the development finance sector over recent years.”