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Avamore total lending reaches £250m

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Avamore Capital’s total lending has reached £250m across 189 loans.

 

According to the lender, the launch of its finish and exit product and securing two institutional funding lines were fundamental in lending this quantity of loans.

The deal which enabled Avamore to reach the £250m mark was a wind and watertight finish and exit worth approximately £882,000.

Avamore closed more transactions by number in 2020 compared with 2019, and remained relatively consistent in terms of volume.

Amit Majithia, principal at Avamore, said: “This is a huge achievement for the Avamore team particularly as it follows an unusual year.

“We are extremely proud of the strength of our loan book which was built based on pragmatism and sustainability rather than just growth which has meant we have never had an impediment to our balance sheet.

“We are of course incredibly grateful to the entire Avamore team, our key brokers, borrowers and third-party service providers who have helped us get to the £250M mark for total loans.

“In 2021, we hope to achieve even more by listening to what the market needs, delivering high quality products and services and, consolidating relationships even further so that we can grow with our partners.”

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