Record quarter for Alternative Bridging
Included were individual loans ranging from £250,000 up to a £9 million facility which was secured on a hotel undergoing a programme of improvement and refurbishment, and an adjoining residential development of 32 houses and flats.
Alternative Bridging completed loans spanning the entire spectrum of their property finance products: first and second charge loans for up to three years for commercial property, residential property both for home-owners and investors, and finance for property development.
Chief Executive Officer, Jonathan Rubins, believes this is reflective of both market trends and recognition by brokers that Alternative Bridging delivers a combination of constructive, efficient processing and flexible underwriting across a broad spectrum of properties.
“I am pleased to see this quarter’s completions reflect our strength as a lender for regulated and non-regulated loans. Our revolving loan facility, a cost-effective substitute for a bank overdraft although a new concept to the industry, is attracting considerable interest. We constantly expand and grow our products and as well as the revolving facility have a number of new initiatives in the pipeline.”