Aspen lends £51.3m in record quarter

Aspen Bridging lent £51.3m from April to June 2021, making it the best quarterly performance in the lender’s history.

Deals ranged from a £4.5m development exit loan secured against a detached development in Kent to £210k light development deal on a detached property in Norfolk.

Over one-third of deals completed were over £1m in loan size, while terms ranged from 10 to 18 months with gross LTVs ranging up to 75%.

The completions were submitted by 30 different broker firms on properties across 21 counties through England and Wales.

Products utilised included Rapid Desktop, Light Development, Medium Refurbishment, Residential investment, and Commercial to meet finish & exit, development exit, purchase and refinance needs.

Loans were secured across a variety of properties from terraced, semi-detached and detached houses through to flats, semi-commercial premises, retail outlets, office buildings and warehouses.

Jack Coombs, Director at Aspen said: “2021 has been an exceptional year so far, with this quarter easily surpassing our previous three-month record which was set in quarter three of 2020.

“This was achieved by our great team working hand-in-hand with our introducers and our partners at Fieldfisher LLP, VAS Group & CVS.

“The range of cases shows we have become a trusted lender across a variety of requirements, although development exit, foreign purchase and light development are very much a focus.

“Of course we never rest on our laurels and we look forward to announcing some exciting developments from Aspen in the near future.”

Published: 08 July 2021