The ALTERNATIVE Overdraft provides a flexible loan facility which can be drawn upon whenever required.

It can be drawn, repaid or reduced, and drawn again and again, whenever needed. It is the ideal loan arrangement for the property industry and business community.

Secured by a first or second charge on a commercial or residential property the ALTERNATIVE Overdraft avoids delay and expensive setting up charges each time a loan is needed or paying interest when the facility is dormant.

Whether you are purchasing at auctions, dealing in or improving property or engaged in commerce or industry, the ALTERNATIVE Overdraft will satisfy your day to day financing requirements.

£2M ALTERNATIVE Overdraft – Bedfordshire

An experienced developer had accumulated a series of adjoining residential development sites with the first under construction, the second with outline planning permission granted and a third shortly to be acquired. At a time when clearing banks are restricting their support, the developer required working capital to invest in the second and third sites, ensuring they were development ready, providing continuity,  pending completion of the first.

Not all of the funds were needed immediately so an ALTERNATIVE Overdraft secured by the second site perfectly satisfied the requirement of an initial loan and further drawdowns, as and when required. Being able to repay and redraw provided the further flexibility needed by the borrower, similar to that provided by a clearing bank overdraft with interest only charged on the balance outstanding at any time.

Alternative Overdraft - Lending Terms and Criteria
Loan Term:

12 - 24 Months

Minimum Loan:


LTV up to:

• Residential and Commercial Property: 70%
• Owner-occupied dwellings (second charge only): 65%

Interest from:

0.75% per month on balance outstanding

Non-utilisation Fee:

0.15% per month on undrawn balance

Arrangement Fee from:

2% of the loan

Available for:

• Auction and private treaty purchase
• Refurbishment and improvement
• Refinance, working capital and release of equity

Secured on Investments and Owner-Occupied Commercial Property:

• Retail units and shopping centres
• Office buildings
• Industrial and distribution premises
• Residential investments
• Hotels and restaurants (restrictions apply)
• Owner-occupied dwellings (second charge only)

Not available for:

• Cinemas, public houses (trading), night clubs etc.
• Petrol stations (trading), garages, etc.
• Farms, stables, kennels, equestrian centres and other agricultural holdings
• Non-conforming, remote or unusual properties
• First mortgages on owner-occupied private dwellings
• Off-shore borrowing entities
• Regulated residential loans

Available to:

• UK Limited Companies and Limited Liability Partnerships (LLPs)
• UK Resident Individuals and Partnerships

Standard Security

• First or Second Mortgage over the Property

• For Corporate Borrowers:
__o Personal Guarantee(s)
__o Debenture and Floating Charge

Download the forms
Our application forms can be completed online or printed out. Simply download the application form. Save it onto your desktop. Open and complete from your desktop. We want to process your application without delay, so please provide all the information required. If you have any questions or trouble completing the forms, please call us on 020 8349 5190.


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Property Loans
Finance for the property industry and business community
Property Loans
Short-term loans for homeowners and residential investors
Individually structured development finance for residential and commercial projects