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.
By Jonathan Rubins, Director & Chief Commercial Officer at Alternative Bridging Corporation
Happy New Year from Alternative Bridging Corporation. We’ve had a very productive year, full of great events, product improvements and welcoming new people to the team. To take a look at a full summary of 2023 at Alternative Bridging, please see our recent blog. With another year ahead of us, we hope that Alternative Bridging will be the first name that comes to mind when you think “bridge lenders 2024” or “new year new loan”.
Our Residential Bridging Loan provides short-term finance of up to £3.5m for use on all types of investment properties. This loan is the ideal tool for homebuyers who are searching for a suitable solution rather than making a quick, distressed decision. Residential bridging loans are becoming increasingly popular in a competitive housing market.
Our fast, efficient service means we can provide bridging finance within short timeframes. We review each application on a case-by-case basis, and our short chain of command means we can make decisions quickly and efficiently. Our turnaround time is far faster than those typical of a high street bank.
The Alternative Bridging Light Refurbishment Loan is available to fund projects which do not require planning permission. They are made in three separate stages.
Light refurbishment loans typically attract a few different types of borrowers. Buy-to-let landlords of residential and commercial properties often use light refurbishment loans to enhance their property to increase rental value. Individual owners and business owners also use light refurbishment loans for the same purpose. These loans offer accessible financing for those seeking to enhance their property’s value, functionality, or marketability, without undertaking extensive renovations.
Loans of £250,000 to £3.5m are available for improvements to existing buildings prior to lettings or resale.
To read more about our Light Refurbishment finance, click here.
Our Commercial Bridging Loan is available in amounts up to £3.5m and can be secured against many types of commercial and industrial premises. This loan is an alternative to a traditional, long-term commercial mortgage. Allowing you quick access to large amounts of capital to buy or renovate the property in question. For information, including the types of properties the loan can secured against, please read more.
Our Alternative Overdraft is an innovative finance product which gives you liquidity on tap. This facility is perfect for property auction purchases, site acquisitions and for funding work-in-progress projects. The Alternative Overdraft is also a useful tool for investors seeking to expand their portfolio. It acts as a temporary solution to short-term cash flow problems when acquiring new property. Or to homeowners needing to move quickly and for auction purchases.
The Alternative Overdraft is available from £250,000 to £2m and is available for two years. This allows you to make multiple drawdowns whenever you need funds. It is an excellent way of avoiding repetitive, expensive setup costs. For more information about our Alternative Overdraft, click here.
We have recently cut our rate on the Alternative Overdraft, by 0.10% down to 1.05% per month on first charge, on the balance outstanding, and also from 1.10% on second charge.
For more information about the rate drop and to see some of our testimonials from our satisfied brokers and their clients, please see this article.
The Development Loan is designed for purchasing or refinancing purposes. Allowing you to cover construction expenses, site costs interest, fees, and other liabilities. The loan also offers an extended sales period, and upon completion, it provides the option of a top-up advance if required. In addition, during the sales period, there is a reduced bridging interest rate.
They are particularly well suited for large, experienced developers. Developers who are looking to finance ground-up new builds, conversions or large refurbishments of residential and commercial property. For smaller developers, development loans can be used to bridge the gap between their own capital and the total project cost, allowing them to undertake larger projects. Niche users such as self-builders and consortiums of developers may also utilise development loans for similar uses.
The loan is available for between £500,000 and £3.5m, and the interest rate is very competitive from 1.1% per month. The loan is also available with an LTV (loan to value) of 80%, our development loan rates are up to 80% of total development cost or 65% of Gross Development Value (GDV). For more information, please click here.
Our Regulated Development Finance product is available for owner-occupiers for up to 12 months, in the amount of up to £2m. The finance can be used for purchase or refinance, including the construction, site cost, interest and fees. An example where this loan could be used is if a property is being developed on the grounds of a residential home, in order to sell one whilst living in the other. For more information, please take a look at our Regulated Development Finance page.
The Heavy Refurbishment Loan provides bridging finance that is perfect for converting commercial premises for residential use. It is also ideal for structural reconfiguration and extension of existing residential properties for which planning permission is required. Property developers and investors using heavy refurbishment loans typically require significant funding for projects involving structural changes and extensive renovations. The heavy refurbishment loan provides the funds to complete these projects which require substantial work.
We scrutinise the proposals, plans, and elevations of the contractor, along with any planning permission required for the improvements. After that, our valuer and monitoring surveyor conduct a thorough due diligence check.
We fund the entire cost, including interest. We also finalise the amount of the purchase loan and the final release available upon completion of the project at the outset. Our asset managers maintain close contact throughout the project. They visit the site as needed to ensure that stage advances are agreed and paid promptly and that any problems are resolved early on. For more information, please click our product page for Heavy Refurbishment Finance.
Our recently relaunched Alternative Term Loan is the ideal finance facility for property purchase, refinance, and improvement of properties, or to release working capital. The loan now comes with no early repayment charge and has a reduced interest rate of 6.75% over BOEBR.
It is structured to match cash-flow situations and includes special arrangements for interest to be accrued when property income is not yet stabilised. This makes the loan ideal for supporting new and growing businesses. Loans are available for up to 70% of valuation and as income is improved and the property value increases, additional advances can be made. For more detailed information about our recently revamped Alternative Term Loan, please click here.
PartX Property Finance offers part exchange of old homes for new. The loan allows the developer to complete a quick sale at full value. The situation afforded by the loan is also excellent for the owners of the part exchange property, who can sell their property at full value without waiting for a buyer. PartX finances the developer for the purchase of the part exchange property and includes funds for its light refurbishment if required. If you would like more information about our PartX Property Finance, please click here.
Our Regulated Bridging Loans are available for property purchase, refinance, refurbishment, equity release or to unlock working capital for business purposes. The loan is secured against a residential property which is currently occupied or will soon be occupied by the borrower or a family member. This type of loan is regulated by the Financial Conduct Authority.
If you have any questions about our range of bridging finance, development finance, specialist lending products and property lending in 2024, please don’t hesitate to contact us. Alternatively, you can call us on 020 8349 5190 and speak directly to one of our experienced BDMs who are on hand to answer any questions you may have.
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