Alpha urges brokers to consider smaller bridges

Alpha urges brokers to consider smaller bridges




Specialist lender Alpha Bridging has urged brokers not to be put off by applications for so called "smaller loans".

Specialist lender Alpha Bridging has urged brokers not to be put off by applications for so called “smaller loans”.

The warning comes in the wake of what the lender believes to be excessive media coverage implying that bridging lending focusses only on loans in excess of £1 million.

According to Alpha Managing Director Mercedez Binning, the majority of loans that are completed by brokers and lenders are in fact under £150,000.

She said: “The reality in the bridging market is that those large loans talked about with such relish in the press are only a tiny percentage of the market.

“With thousands of SME’s and individuals all looking for immediate short term funding there is plenty of assistance that brokers can offer.

“I think it is easy to be seduced by the size of the biggest loans, but intermediaries need to understand that just because clients are not looking for millions in funding, it does not mean that they can’t be catered for.”

Mercedez added: “Last year, the average loan we wrote was under £100000 and this is where we are happy to operate, because this is where the market is.

“Frankly, I would rather look at a dozen smaller loans than one big one.

“For brokers we deal with, apart from the welcome they get from us with this kind of enquiry, the main aspect of our service that they have told us they like is that we take the trouble to look at every enquiry in its entirety.”

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