The Association of Short Term Lenders (ASTL) has welcomed Allegiance Insure and Moorfields Advisory as its newest associate members.

The bridging trade body has now welcomed two new full members and four associate members so far during 2017.

Allegiance Insure is an independently owned broking company that advises financial institutions and corporates on a range of their insurance cover needs. It has designed a crime insurance policy specifically to protect the interest of short term lenders against losses arising from fraudulent transactions.

Moorfields Advisory is an independent firm of restructuring and insolvency specialists, providing support to businesses, professional advisers and financial institutions in financially distressed situations. It also has a team that specialises in pursuing personal guarantees on behalf of secured lenders.

Benson Hersch (pictured), CEO of the ASTL, said: “Applications and completions for bridging finance and short term lending continue to rise. It is therefore crucial that we continue to prepare ourselves for further growth and diversification to ensure we remain the first voice of the short-term lending market.

“Allegiance Insure and Moorfields Advisory are joining a number of surveyors, insolvency experts and law firms who continue to support lender members with their expertise and understanding of the short term lending industry. Both companies have something distinctive to add to the ASTL and their credibility within the marketplace coupled with their experience and specialist knowledge secured their membership.”

“We are proud to be recognised by an association of the ASTL’s standing and look forward to working with its lender members,” said Charles Wintour, founder and director of Allegiance Insure.

“Allegiance has a good knowledge of the short term lending market and the role insurance cover can plan in giving lenders the protection they require, as business volumes in this important sector grow.”

Simon Thomas, partner at Moorfields Advisory,added: “Being an associate member provides us with an even greater familiarity with the issues in the short term and bridging markets. We are also demonstrating that we are a professional and responsible company that values the growing role that the ASTL is continuing to play in the market.”