Aldermore has become the newest member of the Association of Short Term Lenders (ASTL).

The bank announced its entry into the bridging and short term lending markets this week.

Benson Hersch, chief executive of the ASTL, said: “We are really pleased to welcome Aldermore on board. Aldermore is a pioneering bank with a good reputation that has really made its mark in the mainstream lending market and I expect it to do the same in bridging.

“Aldermore will be a very valuable contributor to the ASTL and it can only help improve the reputation of the bridging industry still further to have the likes of Aldermore as a part of it.”

Charles Haresnape (pictured), managing director of residential mortgages at Aldermore, said: “We have a very positive offering to make to the bridging market, to brokers and borrowers for both residential and commercial bridging deals. A key way of doing this is through membership of the ASTL.

“The standards that the ASTL upholds have really helped to improved the reputation of the sector and the ASTL has some real wins with the FCA to the benefit of everybody involved in this sector, so we look forward to being able to work with the other reputable lenders who are members of the ASTL to help shape the market that we are a part of.”