Alternative Bridging Corporation has reported a rise of more than 50% in development finance enquiries following the launch of its revised proposition last month.
The specialist lender overhauled its development finance offering to support projects from construction through to final sale within a single, integrated facility. Brokers have responded positively to the simplicity, flexibility and transparency of the new approach, particularly in a market where certainty of funding and exit options remain critical.
The updated product merges residential development finance with development exit funding, removing the need for separate facilities or mid-project refinance applications. Interest is priced from Bank of England Base Rate plus 6.5%, with loans available up to 70% LTGDV.
A notable feature is the automatic transition into a development exit loan after practical completion. Interest rates then reduce by 1.5% per annum for the remainder of the term, giving developers additional time to complete sales without the pressure of a short or inflexible exit deadline.
“The level of interest we’ve seen since launching the revamped development finance proposition has been extremely encouraging. A more than 50% increase in enquiries tells us that brokers and developers were looking for exactly this type of joined-up solution,” said James Bloom, director at Alternative Bridging Corporation (pictured).
“Too often, development finance has been fragmented into separate conversations around build, exit and longer-term funding. By bringing these elements together into a single, clearly structured facility, we’re giving brokers greater confidence and helping developers plan with far more certainty.”
Bloom noted that the uplift in enquiries also reflects wider market conditions. “Developers remain active, but they are more cautious and more focused on managing risk. Products that offer flexibility on exit, transparency on pricing and certainty of delivery are resonating strongly, and that’s exactly what this revamp was designed to achieve.”
