New bridging and development finance lender, Pallas Capital, has become the latest lender member to join the Bridging & Development Lenders Association (BDLA).
Pallas Capital, which announced its launch last week, is part of Pallas Group — operational in Australia and New Zealand with over 230 employees globally — which manages a loan book of £1.8 billion and has completed more than 1,100 loans and other investment types worth close to £2.75 billion since 2016.
Pallas Capital’s product range in the UK spans residential, mixed-use and commercial bridging, development exit, light and heavy refurbishment, vacant land and development finance.
The BDLA now has 55 lender members, representing a collective loan book of more than £13.7 billion, and its total membership including associate firms is fast approaching 100.
Adam Tyler, CEO of the BDLA, commented: “We are delighted to welcome Pallas Capital to the BDLA. Membership of our association demonstrates a strong commitment to responsible, specialist property finance and as our membership continues to grow, so does our ability to collectively influence key conversations with brokers, regulators, and policymakers. Together we can ensure that our sector remains robust, responsible and forward-looking.”
Ben Keenan, executive director at Pallas Capital, said: “Joining the BDLA is a natural step for Pallas Capital. We are pleased to become part of a trade body that plays such an important role in supporting best practice and representing the specialist property finance sector, and we look forward to collaborating with fellow members and contributing to shared efforts that strengthen the industry and support positive outcomes for customers.”
