ASPEN SAYS ‘I DO’ TO £2.5M THREE-DAY BRIDGE

11 July 2024

Aspen emphatically said ‘I do’ to a speedy £2.5m Residential bridge, completed in just three days, with the borrower having two reasons to celebrate having also got married on the day of drawdown.

While finishing redevelopment of a six-bedroom terraced family home in Fulham, the applicant’s project was significantly delayed due to underpinning works on a neighbour’s house which meant the existing credit line was coming to an end.

Mirroring a true dash to the alter, the Aspen team pulled out all the stops to the ensure the application was signed, sealed and delivered in double quick time to allow works to be completed as well as additional time to sell the property and realise maximum value.

The deal was completed on Aspen’s Stepped Rate, starting at 0.65% per month over 10 months.

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

Ian Miller-Hawes, Sales Director at Aspen Bridging, said: “This is bridging as a true financial solution to a problem that was completely outside the developer’s control.

“The fact we could turn the application around in three days, allowing the borrower to head off on honeymoon with their money issues resolved, truly is the icing on the cake.”

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 0.49% 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.