"We hope that by launching these products and adding greater clarity around our offering"
Avamore will now lend from 0.65% per month and offer rates from 8% per annum for its residential development product, as well as continuing to offer bespoke and structured, loans alongside more straightforward bridging and development finance.
Avamore says it made the changes following feedback sessions with clients, partners and prospects, including suggestions around what it could do to improve the broker experience. The lender said there was also a clear need for the lender to produce a defined matrix for their respective products.
The lender’s origins were based on servicing a more complex segment of the market, however, with a diversification of funding, Avamore says is now able to expand the overall offering and work with a greater proportion of the market.
Zuhair Mirza, principal at Avamore, commented: “We are pleased to be launching these new products and hope this change will open up new opportunities for Avamore to grow and be able to service a greater proportion of the market. Critically, we will retain our proactive and responsive service whilst continuing to provide access to a decision maker throughout the underwriting process. We are excited to work with more brokers and developers in the market and look forward to strengthening relationships further”.
Michael Dean, principal at Avamore, said: “We hope that by launching these products and adding greater clarity around our offering, we will be able to ensure an exceptional Avamore experience as soon as a borrower or broker hears about us. Whilst we are excited to enter the market with a new price point, every deal which is introduced to Avamore is assessed on a case by case basis. We will always take the time to speak to brokers and borrowers and guide them through our product offering to establish which solution is best for them. We are looking forward to strengthening relationships within the market”.
