Partner Article

Steady ship in choppy waters…

For introducers of loans the most important factor is ‘consistency and certainty of closing’, even more important than lower interest rates or the Loan to Value (“LTV”) discourse, according to Alternative Bridging Corporation (Alternative).

Brian Rubins, Alternative’s Managing Director said, “This is the broker community’s message and, of course, it is totally logical as without consistency, it is impossible to create alliances or predict the outcome of any proposal.

“Post Brexit, we maintained our position as a leading short-term lender when there was an exit from the market by a number of other bridging companies, large and small, and when even more pretended it would be business as usual, albeit tongue in cheek.

“Compare this with the shock exit from the Commercial Real Estate Market (CRE) by Nationwide Building Society, the UK’s largest mutual lender. This month, the Society announced its intention to abort its commercial property lending as a precursor to withdrawing from the CRE market altogether except for existing commitments.

“We have one simple message to existing Nationwide borrowers, brokers and property professionals, our group has made short-term property loans for almost 25 years and we see ourselves continuing to do this in 25 years’ time. We have a clear vision for the future and a big appetite for loans between £250,000 and £20m matched by the necessary skills and a short chain of command enabling us to create and maintain ongoing relationships, swiftly and consistently.”

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