Brian Rubins, Chairman of Alternative Bridging Corporation Limited (ABC), explains how bridging finance can be the key for brokers in finding an alternative source of finance for their clients…
NACFB members must be concerned by the number of lenders who have withdrawn from the commercial mortgage market over the past year and, have no doubt, more will do so.
Similarly, processing time for the simplest of loans becomes more and more extended and after credit approval is finally achieved, drawdown may take three months but often it is far longer. As borrowers’ requirements are far more urgent than that, bridging finance provides the alternative solution to enable purchases and refinance to be completed without delay.
ABC and other members of Southern Group Limited have provided short-term loans to the property industry and business community for almost 20 years and continue to do so, literally hundreds of loans for purchase or refinance to a diverse group of borrowers. Three years ago, we recognised the need for an alternative source of finance and so changed our name to ALTERNATIVE Bridging Corporation Limited to reflect this.
But business life cannot be allowed to continue to be so complex and often so unrewarding and at ABC we work hand-in-hand with the broker community to make life simpler and to put a smile on their faces and a buck in their pockets! ABC has a simple mission statement – to satisfy property finance needs without stress or strain and so create relationships which endure and yes, keep it simple, make it easy.
At a time when doing business is a challenge, we believe short-term bridging loans enable both the brokers and borrowers to achieve their objectives, we are the alternative. We truly value our relationships with the brokers who support us, we recognise they deserve our loyalty in return and so from us they enjoy:
- Focus – we only provide loans to the property industry and business community
- Understanding – we listen to them, establish their clients’ needs and structure the loan accordingly
- Integrity – after terms are agreed, they are there in black and white; they are easy to understand and do not change
- Transparency – our process is prompt and efficient, keeping our brokers fully informed at all times
- Relationship – assisting you throughout the life of the loan and thereafter, co-operating with you to ensure you maximise this and future opportunities
However demanding their clients’ requirements are, we work closely with our growing band of broker friends to provide cost-efficient property loans, swiftly and simply. We have practiced this as lending principles for 20 years and now are pretty good at doing it!
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