Mortgage Soup fires the questions at Anca Barbarosie, asset manager at Alternative Bridging Corporation.
Mortgage Soup (MS): What is your role as an asset manager at Alternative Bridging?
Anca Barbarosie (AB): As an asset manager at Alternative Bridging, my role involves overseeing the entire lifecycle of development loans, from initial feasibility assessments through to loan redemption. This includes evaluating project details such as development costs, planning permissions, and sales potential to ensure well-informed lending decisions.
Once a loan is approved, I monitor its progress by reviewing reports from the Monitoring Surveyor and authorising drawdowns when appropriate. I also conduct site visits to stay informed about project status and potential challenges. Towards the end of the process, I manage loan redemptions—either through refinancing or sales—and collaborate closely with our Credit and Servicing teams on any necessary extensions. This diverse role requires a blend of technical expertise and strong relationship management, making it both challenging and rewarding.
MS: How can an internal asset management team help the lending process?
AB: An internal asset management team is essential in ensuring efficient lending operations by supporting brokers and lenders in maintaining control over complex projects. We start by conducting detailed feasibility assessments, which help identify risks early and ensure informed lending decisions.
Throughout the loan’s lifecycle, the team offers consistent oversight, working closely with the broker and Monitoring Surveyor to ensure funds are used correctly and compliance is maintained. This approach minimises delays and ensures that any issues are addressed promptly, enabling brokers to deliver a reliable service to their clients.
By acting as a central point of communication, the asset management team helps streamline processes such as drawdowns, extensions, and redemptions, ensuring a smooth experience for all parties involved.
MS: Is it unusual for a bridging lender to have an internal asset management team?
AB: It’s relatively uncommon, but it offers a significant advantage. Development loans, by their nature, require detailed oversight and fast decision-making, which an internal asset management team can provide more effectively than external third-party arrangements.
By working closely with the broker and Monitoring Surveyor, we can quickly identify and address potential issues, reducing the risk of costly delays. This hands-on approach ensures that brokers can offer a more responsive service to their clients, helping to build trust and strengthen long-term relationships. For lenders offering complex Development Loans, having an internal Asset Management team is invaluable.
MS: Can you provide an example of how the asset management team has benefitted a broker and their client?
AB: Our asset management team has played a key role in helping brokers navigate challenging projects by offering timely support and expert guidance. For example, when issues such as planning permission delays or unexpected construction costs arise, we work closely with the broker and Monitoring Surveyor to find solutions and keep the project on track.
This proactive approach helps brokers manage their clients’ expectations and avoid unnecessary delays. By ensuring clear communication and efficient processes, we enable brokers to provide a high level of service, ultimately leading to positive outcomes and repeat business.
