New Development Finance programme gains momentum
Brian Rubins, managing director of Alternative Bridging, said: “The Chancellor has announced his desire to see many more new houses built and is providing further financial support with the extension of the Government’s Help to Buy Equity Loan Scheme and the construction of a new garden city at Ebbsfleet in Kent.
“We share George Osborne’s aspiration which is why we introduced our development finance programme last year.
“Clearly there is a void which needs to be filled by smaller lenders such as ourselves, due to the reluctance of the clearing banks to support small property developers.
“As well as new housing our development finance programme includes student and key workers accommodation, serviced apartments and commercial developments.
“We also refinance completed schemes to release working capital.
“When it comes to cash flow, as our favourite grocer says, ‘every little helps!’”
The new initiative includes projects in Plymouth (£2.35m), Guildford (£1.8m), Redhill (£1.5m), Harlow (£880,000), Huddersfield (£825,000) and Leeds (£800,000).