Avamore reaches £100m worth of lending

Avamore Capital has passed the landmark of £100m worth of lending.

 

The loan which saw Avamore reach this mark was a £2.2m development facility in Sittingbourne.

Avamore has also grown its original team from three to 12, expanding the asset management, underwriting and credit teams. An additional four hires are also in the pipeline across all business areas.

The lender now plans to accelerate its growth even further and almost double its loan book within 12 months.

Zuhair Mirza, principal and co-founder of Avamore, said: “We started Avamore Capital as a family-office-backed lender and one of our biggest achievements has been building up a strong and stable loan book which has led us to become an institutionally funded lender.

“We will always maintain varied funding lines so that we can remain agile and dynamic in today’s market and are excited to see the direction the business will take in the coming years.

“We are grateful to everyone that has contributed to our success and we hope that Avamore, our clients, broking partners and vendors will go from strength to strength.”

Since January 2016, Avamore has seen a number of positive developments to support its growth. Noticeable highlights for the lender include the completion of a £6.3m at 0.59%, its largest loan at its lowest ever rate.

SOURCE: mortgagesolutions

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