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Alternative in the Midlands …

Short-term lender, Alternative Bridging Corporation Limited, has opened a dedicated Midlands office to facilitate the expansion of its business in the region. Building on its existing broker network and the strong demand already demonstrated, Alternative has opened an office in Newcastle-under- Lyme, equidistant for its Birmingham and Liverpool Business Development Managers. It will provide a base for them to meet brokers and borrowers and to house a local case management support team.

Alternative and its sister companies have successfully operated in the short-term lending space for the past twenty-five years. In this time, they have brought together a team of skilled new business managers and underwriters, supported by strong systems, driven by an ethos of service and reliability. Typically lending between £250,000 and £5M, with an ability to lend up to £10M, Alternative has a defined plan to double and then redouble its loan book over the next two and four years. The new regional office is one step in this plan and consideration is being given to similar local offices for the South West and East Anglia regions.

Based in Borehamwood, Hertfordshire, Alternative Bridging’s Head Office team administers the business and services its UK loan portfolio. It has established itself in London and the South East as a trusted, reliable lender and its directors recognise the need for a similarly committed, regional office to provide undoubted on the spot service in the Midlands and North. Experience has proven that local service and certainty of completion with no last-minute changes are the keys to building lasting relationships.

The new office is staffed by experienced, short-term lending professionals, Midlands Business Development Manager Mo Amjad Ibn-Abdul and Northern BDM Steve Woods together with their dedicated case manager. Mo, a Birmingham resident and Steve from Liverpool, understand both local business and local property. Together they cover the business heart-land from Coventry to Newcastle and will provide easy access to funds for both clients and brokers in these important regions.

Alternative lends from 3 to 24 months to the property industry and business community as well as to home-owners. Facilities include residential and commercial bridging loans and development finance. Lending across a wide range of property assets, Director, Jonathan Rubins, is excited by the inroads made to date and said “I strongly believe the Midlands Region will outperform initial expectations; the region is full of opportunity and we are giving it every support possible to expand Alternative’s reach.

Alternative already has a Midlands portfolio of loans and a roster of valued local introducers; loans made in the region include:

  • Edgbaston £1.275M – Residential
  • Leicester £1.5M – Portfolio
  • Loughborough £235,000 – Residential
  • Telford £3.0M – Residential development
  • Shropshire £800,000 – Residential conversion
  • Tamworth £1.75M – Residential development
  • Northampton: £4.0M – Student housing development
  • Nottingham £250,000 – Residential

Seeking a diversity of business, Alternative has been pleasantly surprised at the mix of size and type of loans it has completed in the Midlands and believes that this strategic step will both increase its Midlands portfolio as well as generate demand from local introducers seeking to fund opportunities in its other regions.