New funding enables property finance specialist to offer more competitive rates
Specialist property lender Alternative Bridging Corporation has secured a new funding arrangement of up to £200 million to support its loan demand and business growth.
The facility, provided by a high street bank, will give Alternative Bridging access to low-cost funding, enabling it to offer more competitive rates across its product range, which includes residential and commercial bridging loans, development finance, term loans, and its Alternative Overdraft facility.
“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,” said Stephen Meller (pictured), director at Alternative Bridging Corporation. “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.”
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