Alternative Bridging launches interest only term loans
Alternative Bridging, the property finance lender has entered the market with a “listening programme for interest only term loans”.
Reacting to market demand, it has introduced individually underwritten 3 – 5-year loans, for residential and commercial property investments and owner-occupied commercial properties. Target properties are residential investments including ASTs, HMOs and student accommodation and retail premises, office buildings, factories, warehouses and mixed-use assets.
Jonathan Rubins, pictured, a director of ABC and head of sales explained the USP is individually underwritten term loans by people for people, not tick boxes and algorithms. He says:
“Sometimes debt service ability is easy to prove, but we recognise this is not always possible although hidden in the background there is adequate cashflow. This is the time to listen to the borrower’s story and gather sufficient circumstantial information to satisfy ourselves.”
Initially, with loans from £150,000 to £2m, which will increase in the near future, the ALTERNATIVE Term Loan suits property investors and the business community – not just the butcher, baker and candlestick maker but also professional firms, manufacturers, distribution companies, and the growing tech market.
Jonathan went on to explain:
“We value feedback from our introducers and following the recent successful introduction of the ALTERNATIVE Overdraft, we are encouraged to launch our term-loan programme hot on its heels. We now offer our introducers the widest range of short and mid-term products, residential, regulated and commercial bridging loans, development finance, the ALTERNATIVE Overdraft and now term loans.”
Alternative Bridging believes there is a vacant space for a listening lender for the property industry and SME market – one which will review the facts and find ways to say yes. Their aim is to be the solution and not the problem, enabling businesses to grow, swiftly and simply, and not be frustrated by lack of financial support.