Aspen goes the extra mile(s) to complete five-day bridge

27 January 2025

Aspen’s in-house monitoring team undertook a 200-mile round trip on the day of initial enquiry to ensure completion of a £455,000 bridge in just five days.

With the foreign national urgently needing funds to meet the developer’s purchase deadline on a newbuild four-bedroom house in Wokingham, Berkshire the lender proposed their No Valuation product and utilised its Docusign process for speed.

The deal was completed at 70% LTV on Aspen’s Flat Rate at 0.89% over 10 months. Exit will be achieved through a buy-to-let mortgage.

In line with Aspen’s one-person-per-case customer service philosophy the deal was taken from start-to-finish by Underwriter, Daniel Tame.

Ian Miller-Hawes, Sales Director at Aspen Bridging, said:

“This is yet another application where we have proven we will go above-and-beyond for our clients to meet their financial requirements. Each of our products are designed to perfectly address real-world lending scenarios and this is no different.

“Thanks to our growing reputation for good business in the foreign national space it is clear to see why we are witnessing a marked increase in applications from overseas investors, particularly having recently released aggressive rates that brokers have really embraced.”

Aspen Bridging recently launched its 2025 Rate Card with reductions of up to 80bps for all new applications and a higher maximum loan size of £15m net.

The cut sees Flat Rates starting from 0.79% per month and Stepped Rates from an initial 0.45% per month.

Aspen’s Heavy Refurbishment Bridge product is now available up to 75% LTV with rates from 0.87%, while the lender’s leading Development Exit and Refurbishment bridge has also been updated and is available at 80% LTV with rates from 0.89% and up to 75% LTV from 0.84%.