Business has been strong post the EU referendum for Alternative Bridging Corporation.
Brian Rubins, managing director of Alternative Bridging, said: “In this period, we completed two loans within a week of them being introduced and four were completed on the last afternoon of July. Brokers and borrowers want certainty from their lenders, that not only are they continuing to lend post the Brexit vote but they can deliver with speed and professionalism, all of which we are very proud to offer.”
Alternative Bridging has reported that its experience with the Brexit vote is that it has been a wake-up call to borrowers and their advisers. Remarkably the delays which usually slowed down the due diligence and drawdown period had miraculously vanished and loans were being completed in shorter and shorter timescales.
Loans recently completed include:
- Luxury apartment close to Lords Cricket ground – £3.8m
- Waterfront development site in Cardiff – £2.9m
- Serviced apartments in Southampton – £2.9m
- Residential development comprising 15 flats in Plymouth – £2.6m
- Working capital secured on a refurbished and extended family home in Ealing – £900k
- Retail investment in Worthing – £775k
- Restaurant and living accommodation in Ascot – £570k
- Regulated residential loan in Bushey, Herts – £540k