Alternative Bridging Corporation has announced a new funding relationship of up to £200m to support its demand for loans.

The new warehouse facility is from an unnamed high street banking brand.

Alternative Bridging said the funding would provide it with additional low-cost funding, enabling the specialist property finance provider the opportunity to offer more competitive rates for its lending, across its residential and commercial bridging, development finance and term loan offerings.

Director at Alternative Bridging, Stephen Meller, said that the new funding relationship “signals the dawn of a new era” for the firm.

“Securing the support of such a prominent high-street bank, at competitive pricing, demonstrates the strength of our lending proposition, which combines a robust approach to underwriting alongside a can-do attitude to getting good deals over the line,” Meller added.

“Alternative Bridging is a longstanding originator in the short-term lending market and this additional, competitively priced facility will see the business through to its next growth phase.

“We’re really excited to have this additional line to assist our plans for the future and would all like to thank the broking community who have supported and enabled us to attain the necessary scale to achieve this milestone.”

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