Development Loan – Hampshire, Basingstoke

This £1.3m Development Loan was a complicated application as the land was unregistered and there were additional complexities regarding the legal transfer of some of the land that was being developed. However, we were able to take a flexible approach and worked to deliver on loan terms that suited the structure of the security. Once these loan terms were agreed, we worked quickly to deliver the development loan within two weeks.

On the day of completion, we were made aware that the borrower required an urgent advance of more than £120k to commence the build where Alternative bridging responded quickly. Working with our own in-house team of Asset Managers and surveyors to ensure the request was dealt with promptly, the money was advanced within the next working day.

Stephen Watts at Brightstar Financial Limited said: “This case was a great example of why it is so important to work with a lender like Alternative Bridging Corporation who have genuine expertise in funding property developments. There were a number of complexities to overcome, but the team at Alternative Bridging were able to work quickly and take a flexible approach. Their in-house Asset Management team meant they were also able to approve an urgent advance for our client, with the funds being released the next day. We wouldn’t have been able to complete this development loan case if it were not for Alternative Bridging.”

This also demonstrates our commitment to providing a best-in-class service to our clients and the strength of our relationships both internally and externally. With a short chain of command, and our directors and executives all under one roof, we are able to make very swift decisions. In this case, our dedicated team of Asset Managers and Surveyors worked together efficiently and collaboratively to provide the client with a fast and swift advance the next working day.