Member Article

Alternative Bridging sees £10 million of loans in 4 weeks

The end of July and beginning of August proved to be one of the busiest periods ever for Alternative Bridging with the completion of loans totalling more than £10 million in a four week period.

Loans were secured on properties ranging from private dwellings to a London street, despite many of the relevant solicitors, valuers and borrowers being on holiday.

Brian Rubins, Managing Director of Alternative Bridging said, “We are extremely pleased to have been able to facilitate so many deals in such a short space of time. It demonstrates how useful it is for borrowers and their advisers to have access to a well-funded, flexible and resourceful lender with a short chain of command which can efficiently originate a wide range of loans.”

The “Summer Portfolio” consisted of:

Residential Development Finance - Middlesex - £1.5m Commercial Bridging Loan - South West London - £500,000 Commercial Development Finance - Worcestershire - £750,000 Regulated and Commercial Loans - Central London - £1.2m Purchase and Refurbishment Loan - Nottingham - £430,000 Development Site Finance - East London - Auction Purchase - £1.2m Second Charges - Residential Investment Portfolio - London - £3.0m Central London – Residential – Standby Facility - £500,000 Regulated Loan - Bedfordshire - £570,000

This was posted in Bdaily's Members' News section by Alternative Bridging Corporation .