He will remain in place “for a short period” until a new head has been found.
He said: “Having acted as CEO of ASTL since its inception in 2008, the time has come for me to stand down and hand over the role to someone else.
“I will continue for a short period to achieve a smooth transition. I wish good fortune to ASTL and its members and associate members and all connected with the short-term lending industry.”
Bloomfield didn’t confirm his reasons for leaving the association now but it follows comments from Colin Sanders, chief executive at Omni Capital, last month.
Sanders said: “I hope 2012 is the year in which we see the emergence of truly effective and representative trade bodies for the sector.
“The basis for this already exists and the more mature bodies, such as NACFB, perform a sterling service for their members.
“But more can be done and as short-term lending continues to emerge from its previously ambiguous past, there is a pressing need for our trade bodies to evolve from ‘clubbiness’ to become the serious, vocal and articulate champions of the sector.”
Adrian Bloomfield, chief executive of the ASTL, said at the time he felt Sanders’ comments were “almost unfair” given the lobbying he has done on behalf of members in the past four years.
Meanwhile in a roundtable hosted by Bridging Introducer earlier this month, due to be published in full in March, Precise Mortgages revealed it did not think the short-term trade body offered value for money and confirmed it had quit the ASTL.
Lowry Capital also quit the ASTL last year.
Speaking on behalf of the ASTL’s executive committee Alan Margolis, head of bridging at United Trust Bank, said: “The executive committee of the ASTL wishes to thank Adrian for all his hard work and commitment over the last few years.
“The short-term sector is immeasurably better placed to face the many challenges, particularly the regulatory challenges, due to Adrian’s efforts.
“The executive committee looks forward to continuing to work with Adrian whilst a successor is found and wishes him well for the future.”
The ASTL was formed in 2008 to represent lenders who offer bridging or short term mortgages or loans.
Its function is to protect and promote the interests of its members and give confidence to all those who transact business with its members.
Membership requires that all members sign up to a code of conduct which includes treating customers fairly, no charging commission or other payment which is perceived as being excessive and requires that all fees are openly disclosed.
