Included were individual loans ranging from £250,000 up to a £9m 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 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.
Alternative Bridging’s chief executive Jonathan Rubins said the growth seen by the lender was “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”.
He added: “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.”
