Commercial lender reports 64% growth

Commercial lender reports 64% growth




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Despite several new lenders recently entering the market, bespoke commercial lender Alternative Bridging Corporation (ABC) has revealed that its loan book has seen an unprecedented increase over the last 12 months.


ABC’s loan book has swelled to become 64 per cent larger than this time last year. The announcement comes in light of recent commercial market developments including the entrance of new lenders, such as InterBay Commercial and Shawbrook Bank, as well as a huge increase in Aldermore Bank’s market share.


The lender’s average loan size has also increased by 20 per cent, to £780,000, in the last year, suggesting that alternative lenders such as ABC really are providing essential liquidity to businesses undertaking large projects, at a time when mainstream commercial mortgages are scarce. 


The increase in ABC’s loan book has been coupled with a steady redemption programme, a feat achieved with similar overheads to those of last year, the lender’s Managing Director Jonathan Rubins explained. 


Jonathan believes that ABC could continue to increase its turnover by a similar amount without the requirement to vastly increase staff by maintaining the high service levels for which his company is known.


Commenting on the news, Jonathan Rubins said: “I think this shows that brokers are now gaining a better understanding of the importance in working with a specialist lender for their commercial requirements and we have been able to continue and indeed improve on both delivery and speed often on a relatively bespoke basis.”

 

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