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.
Alternative Overdraft - providing you with liquidity on tap..
Is it the right finance solution for you? To find out more about this unique, competitive overdraft facility see our FAQ’s below or simply give one of our experienced loan finance professionals a call so that we can direct you to find the perfect lending finance solution for you.
Unlike standard bridging loans, the ALTERNATIVE Overdraft remains available to call upon as and when needed and avoids expensive, repetitive setting-up costs. It is the perfect facility to use for site acquisitions and property auction purchases or to fund work-in-progress.
The Alternative Overdraft is a flexible loan facility that is only available from Alternative Bridging Corporation. It is effectively an overdraft that is secured on property that can provide multiple drawdowns on demand, which can be repaid or reduced and redrawn.
Interest on the Alternative Overdraft is charged on the balance outstanding and can be serviced or accrued.
The Alternative Overdraft is available for two years and can be secured by first charge over commercial or residential and second charge over residential properties.
For an immediate drawdown facility. You can use the Alternative Overdraft to your advantage in a wide range of ways. Once the facility is agreed, you can use it immediately in order to make the most of an opportunity or urgent need, rather than having to go through an application process each time you want to draw down funds. Customers typically use the Alternative Overdraft for uses like auction purchases and working capital for business purposes.
The minimum amount for the Alternative Overdraft is £250,000. The maximum loan is £2,000,000. The maximum loan to value (LTV) is 65% on a first charge loan and 60% on a second charge.
The Alternative Overdraft is available as a first charge loan, or a second charge, where there is already a loan secured on the property. It is only available as a second on owner occupied private residential property.
There are two types of overdraft you may get on a bank account. These are arranged and un-arranged. It is also possible to arrange a flexible overdraft facility secured on a property.
You can draw down and repay your Alternative Overdraft as often as you like.
A bank may allow you to use more money than you have available in your bank account. This is known as an overdraft and it may be arranged or unarranged. It is also possible to arrange a flexible overdraft facility secured on a property.
The Alternative Overdraft can be used to purchase property being sold in the traditional manner (usually via an agent), or via auction.
Buying property at auction requires the ability to move fast, as well as having certainty of funding. The Alternative Overdraft is perfect for auction purchases as you can access the funds immediately.
There are certain types of property that are not suitable to provide security for the Alternative Overdraft. These include
· Cinemas, night clubs, public houses (trading)
· Petrol stations (trading)
· Farms, stables, kennels and equestrian centres or other agricultural holdings
· Non-conforming, remote or unusual properties
· First charge mortgages on owner-occupied residential property
· Off-shore borrowing entities
· Hotels, restaurants, nursing and care homes
· Regulated residential loans
Regularly using an un-arranged overdraft may negatively impact your credit rating. However, accessing an arranged overdraft or making use of a flexible overdraft facility secured on a property will not impact a credit rating.
Many banks offer overdrafts. Often, they will have different qualifying criteria, charge different rates of interest or carry different benefits. The best overdraft will depend on your circumstances and requirements. It is also possible to arrange a flexible overdraft facility secured on a property.
Overdraft debts are similar to other debts and may be written off through insolvency processes such as bankruptcy or IVA. However, this will have a significant impact on your credit rating.
Every bank is different, but an overdraft fee is typically not charged until an account has been in an unarranged overdraft for between 5 and 7 days.
Regularly using an unarranged overdraft may negatively impact your credit rating. However, accessing an arranged overdraft or making use of a flexible overdraft facility secured on a property will not impact a credit rating.
Here at Alternative Bridging Corporation we will always do our best to say yes to your application.
