"Our Alternative Overdraft gave the borrower the breathing room to get things moving again, drawing down funds when needed without being tied to a rigid structure."
- Paul Gavin - Alternative Bridging Corporation
Alternative Bridging Corporation has provided a £1.15 million alternative overdraft facility to back a residential development in York.
The client, living on site in one completed unit, needed funding to continue construction on seven partially built homes, all under a single title. While the site, valued at £2.8 million, showed strong fundamentals, several challenges were present.
The completed unit had not yet received building control sign-off due to delays with the electrical certificate and EPC. Instead of a full new-build warranty, a Professional Consultants Certificate (PCC) was in place.
Working closely with the borrower and their adviser, Alternative Bridging structured a revolving credit facility covering the entire site. The alternative overdraft offered quick access to funds and allowed staged drawdowns as required. To support completion, the lender agreed to make building control sign-off a post-completion condition, giving the borrower time to resolve certification issues. The deal also proceeded based on the PCC, without requiring a structural warranty.
The transaction was completed in just 12 working days from first contact to funds being available.
The borrower is now continuing construction on the remaining homes, planning to exit via open-market sales. By using the alternative overdraft, they avoided delays and gained flexibility to manage cash flow efficiently throughout the build.
Paul Gavin (pictured), head of sales at Alternative Bridging Corporation, said, “Specialist finance is often about finding solutions where traditional lenders might struggle, and this case is a good example. With a mix of partially completed units, delays around sign-off, and a slightly unconventional setup, it needed a flexible approach. Our Alternative Overdraft gave the borrower the breathing room to get things moving again, drawing down funds when needed without being tied to a rigid structure.
“It’s a really useful option for borrowers in that in-between stage, when bridging feels too short but a long term loan doesn’t quite fit. We worked closely with the borrower’s team to keep things moving and got the facility in place in just 12 working days. That kind of speed and flexibility can make all the difference for brokers and their clients.”
