Our short term bridging loans are for purchase, refinance, property improvement or to unlock working capital for business purposes.
This unique overdraft provides you with a flexible drawdown facility giving you instant liquidity and avoids heavy setting-up costs.
Individually structured loans for residential and commercial projects, with finance available for site purchase, construction and fees, refinance, equity release and to provide working capital. Loans are available up to 90% of the site cost.
Flexible first and second charge non-regulated loans available on terms from 3 to 5 years.
We have a commitment to innovation and with the ever changing financial landscape around us we have designed a range of unique Specialist Lending products that solve a range of property finance needs.
£5m Development Finance Loan for Office Conversion into Student Accommodation
In Northampton, a developer faced the challenge of financing a property conversion project. The developer who was experienced in similar ventures, had purchased an office building valued at £8,400,000. Part of this property was under multiple short-term leases, while the remainder was designated for conversion into 92 one-bedroom studios for students attending Northampton University. To proceed, the developer required a £5m development finance loan at 60% LTGDV to refinance the initial purchase loan and fund the construction.
Alternative Bridging provided a financial solution to address the developer’s needs. Providing a £5m development finance loan to refinance the initial loan and cover all construction-related costs, including fees and interest. The developer managed the construction project internally, utilising a mix of subcontractors and direct labour to maintain control over the project’s progress and budget. Additionally, the developer proactively sought lease agreements for all 92 units before the completion of construction.
The £5m development finance facility from Alternative Bridging enabled the developer to successfully refinance the short-term purchase loan and proceed with the construction of the student studios. The project was completed on schedule, and all 92 units were pre-leased, resulting in full occupancy by the beginning of the academic year. This pre-leasing strategy guaranteed a steady rental income stream, which contributed to the project’s financial success. Following the completion and leasing of the units, the loan from Alternative Bridging was refinanced with a long-term mortgage arranged by the introducing broker. This transition to long-term financing provided the developer with more favourable terms, ensuring the project’s long-term financial stability and profitability.
This case study illustrates the effectiveness of a targeted development finance facility in supporting complex property projects and achieving successful outcomes.
Individually structured loans for residential and commercial development schemes, to finance site purchase or refinance, construction, fees and interest, up to 80% of total cost.
