Santander UK has joined the Bridging & Development Lenders Association (BDLA) as an associate member.
The bank, which operates across retail, corporate and commercial banking, supports specialist lenders in the bridging and development finance market through its non-bank financial institutions and professional services team.
The team provides services including day-to-day banking, funding and risk management solutions for lenders active in the sector.
The BDLA said Santander UK’s decision to join reflected the growing role of institutional funding in the short-term property lending market.
The trade body represents bridging and development lenders, as well as funders, legal firms, valuers, technology providers and other professional services businesses operating in the market.
Adam Tyler, chief executive of the BDLA, says: “We are very pleased to welcome Santander as an Associate Member of the BDLA. Santander is a hugely respected and recognisable name in UK financial services, and its decision to join the association is a positive statement about the strength and direction of the bridging and development finance sector.
“Access to funding is fundamental to the continued growth and stability of our market. The fact that a major high street bank such as Santander is actively funding lenders in this space underlines the increasing confidence in short-term property finance and the important role it plays in supporting borrowers, brokers, developers and the wider property market.
Jon Bowring, regional managing director at Santander non-bank financial institutions and professional services team, adds: “We’re pleased to join the BDLA as an Associate Member and to support an association that plays such an important role in representing the bridging and development finance sector.
“Santander supports lenders in this part of the market with a full suite of services and we recognise the value of working closely with an organisation that promotes professionalism, transparency and sustainable growth.
“The bridging and development finance sector continues to play an important role in the wider property finance landscape, and we look forward to further engaging with the BDLA and its members.”
