Jonathan Rubins

Alternative Bridging opens Midlands office

Alternative Bridging Corporation has opened a dedicated Midlands office to facilitate the expansion of its business in the region.

The specialist lender hopes to build on its existing broker network and strong demand.

The new office will be located in Newcastle-under-Lyme, equidistant for its Birmingham and Liverpool business development managers.

It will be staffed by Mo Ibn-Abdul, Midlands business development manager, and Steve Woods, business development manager for the North.

Together, they cover business from Coventry to Newcastle and will provide easy access to funds for both clients and brokers.

The office will act as a base for BDMs to meet with brokers and borrowers, as well as housing a local case management support team.

Alternative Bridging has plans to double and then redouble its loan book over the next two and four years and the regional office will act as one step in this plan and consideration is being given to similar local offices for the South West and East Anglia regions.

The lender already has a Midlands portfolio of loans and a roster of valued local introducers.

Loans made in the region include:

  • Edgbaston £1.275m – residential
  • Leicester £1.5m – portfolio
  • Loughborough £235,000 – residential
  • Telford £3m – residential development
  • Shropshire £800,000 – residential conversion
  • Tamworth £1.75m – residential development
  • Northampton £4m – student housing development
  • Nottingham £250,000 – residential

Alternative said that it had been pleasantly surprised at the mix of size and type of loans it had attracted and believed that this strategic step would both increase its Midlands portfolio of loans as well as generate demand from local introducers seeking to fund opportunities in its other regions.

“I strongly believe the Midlands region will outperform initial expectations; the region is full of opportunity and we are giving it every support possible to expand Alternative’s reach,” said Jonathan Rubins, director at Alternative Bridging (pictured above).

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