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ASTL suspends Amicus Property Finance membership

The association of short term lenders has announced the suspension of Amicus Property Finance’s membership.

ASTL chief executive Benson Hersch says: “The membership of Amicus plc has been suspended by the ASTL whilst the company continues to consider its position, and future.”

The news confirms that the specialist lender, formally known as Capital Bridging, halted lending last week.

The ASTL declined making any further comment on the situation.

Last Sunday, Mint Bridging Finance posted a blog post in which it offered to “make a strategic investment in the company,” and to consider buying Amicus’s entire loan book.

In the post, Mint managing director Andrew Lazare says: “We’ve achieved unprecedented organic growth and continue to advance within the industry. Mint Bridging are now pursuing new opportunities, including acquiring other lenders or their loan books.

“We have a powerful entrepreneurial team and our private funding model gives us the unique leverage to act on investments or buy outs when we see them. Our objective is that by working alongside our peers, we can help strengthen the industry.”

Amicus Property Finance has been approached for comment.

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