Alternative: Bridging becoming more mainstream

Jessica Nangle

July 26, 2017

Bridging lenders who provide development finance for residential developers whose projects have predicted sales of £2m or £3m will consider 65% of estimated sales revenue, suggests Alternative Bridging.

These figures are equal to 80 to 90% cost compared to high-street lenders who usually do not lend more than 60% of cost.

Brian Rubins, director at Alternative, said: “Bridging finance is now an alternative source of funding for commercial loans, and a place to go when other lenders are not readily accessible.”

Alternative also highlight that creating new banking relationships is not easy despite governmental support for small businesses.

Rubins added: “Alternative lenders are becoming part of the mainstream and brokers and borrowers will start recognising them as a first port of call and not where to go after all else has failed.”

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