Alternative Bridging Corporation provides £1.2m Alternative Overdraft to support North West London development

12 August 2026

Alternative Bridging Corporation has provided a £1.2 million Alternative Overdraft facility, enabling a property developer to access flexible funding for the construction of two houses in North West London.

The borrower, a limited company, had acquired a development site with planning permission for two new homes and was seeking a more flexible funding solution. In particular, it wanted to avoid the staged drawdowns and additional monitoring costs typically associated with traditional development finance.

Alternative Bridging structured a £1.2 million Alternative Overdraft facility, secured against three buy-to-let investment properties at a blended LTV of 65%.

The facility enables the borrower to draw funds as and when required, providing access to capital throughout the project without the need for the regular site inspections associated with conventional development finance.

The exit strategy is based on refinancing the two new properties once construction has been completed.

Alternative Bridging Corporation’s Alternative Overdraft is a flexible drawdown facility designed to give property professionals access to funding when they need it. The facility can be secured by a first charge against commercial or residential property, or a second charge against residential property.

Phodis Maratheftis, Business Development Director at Alternative Bridging Corporation, commented:

“Not every development project fits neatly within traditional development finance, and this case demonstrates the value of taking a more flexible approach.

“The client had suitable investment properties that could be used as security, which enabled me to structure an Alternative Overdraft giving them access to funding as and when required throughout the development, rather than relying on traditional staged drawdowns.

“For brokers, it highlights why it’s important to look beyond the development itself when considering a client’s funding requirements. By taking a wider view of the borrower’s assets and circumstances, we can often find a funding solution that gives experienced property professionals greater flexibility and control.”