Mercantile Trust joins Association of Short-Term Lenders

The Association of Short-Term Lenders (ASTL) has announced that Mercantile Trust has become the latest firm to join as a member lender.

Mercantile Trust is a specialist bridging and buy-to-let lender and is part of the Norfolk Capital Group of companies.

In the bridging sector, Mercantile Trust offers loans up to £500,000, although it can consider larger deals on referral, and the lender has specialist propositions to suit both light and heavy refurbishments as well as offering a range of micro bridging loans up to £49,999.

Director of commercial operations at Mercantile Trust, Maeve Ward, said: “We offer a common-sense approach to lending decisions and are committed to providing excellent customer service.

“Our business is built on integrity and accountability, with the aim of building lifelong relationships with intermediaries and clients, and this genuine approach to delivering the best possible customer outcomes aligns closely with the principles and ethics of the ASTL.

“We are delighted to become members of the association and look forward to working together with other members to promote good practice and sustainable growth in the bridging market.”

Members of the ASTL are usually bridging or secured loan companies who provide short-term loans and mortgages, typically of between six months and a year.

Lenders must abide by a code of conduct which requires them to disclose costs and fees up front with no small print or misrepresentation of product offerings, and also not charge non-refundable fees which could be perceived as being excessive.

CEO of the ASTL, Vic Jannels, added: “I’d like to welcome Mercantile Trust as the latest lender to join the ASTL. Our growing membership means that we now represent the vast majority of recognisable brands in the short-term property lending market.

“With every new member to join our ranks, the volume of our voice and the strength of our influence increases. This means we are even better positioned to promote the sector, engage with policymakers and uphold standards.”

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