ASPEN COMPLETES £4,650,000 BRIDGE FOR FOREIGN NATIONAL IN SUPER-PRIME LONDON MARKET

24 April 2024

Aspen Bridging has completed a £4,650,000 Residential purchase bridge for a foreign national on a super-prime property in Chelsea Harbour, further cementing their growing prominence in the high-end London market.

Completed at 55% LTV, the lender utilised their bespoke remote signing and witnessing agreements for international clients, as well as a translator, to ensure the funds were available on the exact day required for the high-net-worth overseas applicant.

The property is a luxury triplex penthouse apartment covering 5,000 sq ft over floors eight, nine and 10 of a modern new-build tower, with five bedrooms and five terraces measuring 2,000 sq ft overlooking the River Thames, Albert Bridge and the City of London.

The deal was completed on Aspen’s Flat Rate at 0.92% per month over 12 months. Exit will be via a Buy-To-Let mortgage.

In-line with the lender’s one-person Customer Service Commitment the deal was taken from start-to-finish by Laura Randall, Senior Underwriter.

Ian Miller-Hawes, Sales Director for Aspen Bridging, said: “This is one of several deals to have been completed on London super-prime properties in the last six months, and there are more in the pipeline for both UK residents and foreign nationals.

“It is a pleasure to acknowledge that brokers now recognise us as a lender that can handle anything from smaller completions in the more remote regions of England and Wales all the way through to the very top of the market in super-prime London boroughs, whether that be one property or a larger development.”

Aspen Bridging’s Rates & Product Card has Flat Rates, across all product types including heavy works, available at 0.89% plus one month’s exit at 80% LTV as well as 0.89% at 75% LTV and 0.85% at 65% LTV.

Stepped Rates start from 0.55% per month for the first six months across all product types and are available up to 80% LTV.

Bridging loan sizes are available up to £10m net for UK and overseas borrowers, both individuals and corporate businesses, for properties across England and Wales.