For brokers who placed business with either of the firms and are now unsure where to go for short term funding, a helping hand has been extended by Alternative Bridging Corporation (ABC), with the team there pledging to assist any intermediaries caught out by the two previously big players in the market shutting up shop.

Jonathan Rubins, managing director of ABC, said: “We operate in a specialist niche market providing short-term finance to the property and business community. We have proven that loans to property professionals and businesses, when properly underwritten, are attractive lending propositions and although larger sums are often needed, fewer problems occur and we remain committed and able to satisfy this market.”