They included a £5m development loan for an experienced property developer in Northampton.

The developer – which has completed several residential and student accommodation projects – obtained finance from Alternative Bridging to convert a part-vacant office building into student accommodation.

Upon completion, the units will be let and repayment of the loan will be from the sale of the student accommodation investment.

The lender also provided a £1m development loan in Gosport for a property developer who had outline planning for a retail park with a number of tenants having already signed leases.

Alternative Bridging’s facility provided the developer with capital to use towards obtaining full and detailed planning.

A £550,000 commercial loan was also provided in Glasgow to well-established local business people to repay an existing bridging loan and raise the equity for the purchase of an additional investment property.

The repayment will be by long-term refinance of both properties.

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Alternative Bridging also provided a £1.3m regulated residential loan in central London to a young Iranian businessman with the right to reside in the UK.

He wished to refinance an existing first charge and to raise around £1.25m net of fees and interest.

Another deal completed by Alternative Bridging was a £532,000 residential loan for a developer in Weymouth.

The developer required finance against two flats in a residential block to enable the borrower to swiftly exit/repay outstanding finance on a separate development and provide working capital for other projects.

“These loans demonstrate not only the range of needs and borrower types in the market for finance, but also the need for the right levels of loan, a lender with vision for the project in hand and the ability to complete the deal in a timely fashion,” said Jonathan Rubins, chief executive of Alternative Bridging (pictured above).

Alternative Bridging’s recent completions come after a number of new appointments, including new business development managers as well as new additions to its broker support team.