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Alternative Bridging brings back overdraft product

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  • 03/11/2020
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Alternative Bridging brings back overdraft product
Alternative Bridging Corporation has reintroduced its alternative overdraft product with lower rates than its previous offering.

 

The product is a flexible loan facility which delivers funds within 24 hours and allows borrowers to withdraw, repay or reduce funds when they need to. Interest is only charged when funds are used. 

It can be taken out as a first or second charge on either a commercial or residential property. Loan terms are from 12 to 24 months, with a minimum loan size of £250,000.

The maximum loan to value (LTV) is 65 per cent and interest starts from 0.85 per cent a month.  

Jonathan Rubins (pictured), director at Alternative Bridging Corporation, said the product provided the peace of mind of being able to quickly access liquidity when it is needed, without additional charges or delay.  

“It’s particularly useful in a competitive environment, providing investors, developers and entrepreneurs fast and efficient access to capital.” 

 

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Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors. Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies. This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector. She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021. In her spare time, Shekina likes to read, travel, listen to music and socialise with friends. She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content. Follow her on Twitter at @ShekinaMS

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