Alternative Bridging Corporation has moved into longer-term commercial lending with the launch of a new subsidiary, Alternative Commercial Mortgages.
The new business, known as ACM, will offer commercial mortgage products to brokers for clients buying, refinancing or raising capital against commercial, semi-commercial and residential buy-to-let property.
Its launch broadens Alternative Bridging Corporation’s lending range beyond short-term property finance, drawing on more than 30 years of lending experience and retaining the lender’s case-by-case approach to underwriting.
ACM products are available for terms of between five and 30 years, with lending up to 75% LTV. Borrowers can choose between fixed and discounted variable rates, while interest-only repayment is also available.
The range can be used across offices, industrial and warehouse property, retail units, mixed-use premises and residential investment property.
ACM is targeting both property investors and commercial owner-occupiers looking for longer-term funding, with the lender placing an emphasis on relatively straightforward product structures and flexible underwriting.
Brokers will be able to submit and manage applications through a dedicated portal, while regionally based IBDMs will provide support from application through to drawdown.
Jonathan Rubins (pictured), director and chief commercial officer at Alternative Bridging Corporation, says: “Commercial-term lending doesn’t need to be complicated. Brokers can be faced with numerous product options and conditions, which can make it difficult to establish quickly what a lender can and cannot do for their client.
“We’ve designed ACM to remove as much of that complexity as possible. The proposition combines straightforward product options with flexible underwriting and clear communication, so brokers can get the answers they need and greater certainty from the outset.
“We’re bringing the same practical, case-by-case approach that brokers know from Alternative Bridging into longer-term commercial lending.
“We want ACM to give brokers a simpler way to place commercial loans, backed by people who understand property and property finance and are on call whenever they are needed.”
