Alternative Bridging Corporation has revealed new funding of up to £200m to help with the demand for loans and the growth of its business.
The funding will help the specialist property finance provider to offer more competitive lending rates.
It offers residential and commercial bridging, as well as development finance and term loans.
Its product range also includes the ‘Alternative Overdraft’, which gives borrowers a drawdown facility that can be used as capital to support cash flow.
The new warehouse facility is via a high street bank.
Introducing the Green Living Reward
Your clients can now get up to £2,000 cashback for making energy-efficient home
Sponsored by Halifax Intermediaries
New chapter
The move signals a new phase for Alternative Bridging Corporation.
Stephen Meller, director at Alternative Bridging Corporation, said: “This new funding relationship signals the dawn of a new era for Alternative Bridging as we enter the next exciting phase in the continued growth of our business.
“Securing the support of such a prominent high street bank, at competitive pricing, demonstrates the strength of our lending proposition, which combines a robust approach to underwriting alongside a can-do attitude to getting good deals over the line.”
“Alternative Bridging is a long-standing originator in the short-term lending market and this additional, competitively priced facility will see the business through to its next growth phase.
“We’re really excited to have this additional line to assist our plans for the future and would all like to thank the broking community who have supported and enabled us to attain the necessary scale to achieve this milestone.”
