Alternative Bridging Corporation has announced a 50% increase in development finance enquiries after the firm overhauled its proposition last month.

The rise comes after the specialist lender introduced a revamped development finance structure, designed to support schemes from construction through to final sale within a single integrated facility.

Alternative Bridging said brokers have responded positively to the "clarity, flexibility and reduced complexity" offered by the new approach, particularly in a market where certainty where certainty of funding and exit optionality remain critical.

The proposition combines residential development finance and development exit funding into one streamlined product, removing the need for separate facilities and refinance applications mid-project.

Interest on the new structure is priced from Bank of England base rate plus 6.5%, with lending available up to 70% LTGDV.

The proposition also offers the automatic transition into a development finance exit loan following practical completion. Through this, the interest rate is reduced by 1.5% per annum for the remainder of the term, providing developers with more space to complete sales without the pressure of a short or inflexible exit deadline.

Director at Alternative Bridging, James Bloom, said the level of interest it has received since the revamp has been "extremely encouraging".

He concluded: "A more than 50% increase in enquiries tells us that brokers and developers were looking for exactly this type of joined-up solution.

"Too often, development finance has been fragmented into separate conversations around build, exit and longer-term funding. By bringing these elements together into a single, clearly structured facility, we’re giving brokers greater confidence and helping developers plan with far more certainty.

"Developers remain active, but they are more cautious and more focused on managing risk. Products that offer flexibility on exit, transparency on pricing and certainty of delivery are resonating strongly, and that’s exactly what this revamp was designed to achieve."

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