Aspen completes 10-day bridge for overseas investor
Aspen Bridging has completed a bridge within 10 days for an overseas investor.
The offering was a 75% loan-to-value (LTV) at 0.89% per month for a 10-month term, with a total £750,000 loan.
In addition, the product included no exit fees or early repayment charges.
The Nigeria-based investor needed to refinance an existing buy-to-let mortgage while releasing equity from a London property.
Michael Abebe, director at Blackstone Private Finance, introduced to the case, which was handled by Saif Khalique, underwriter.
Khalique said: “From start to finish, Aspen were great on this case. I have never completed a foreign national bridge so quickly before this and will be looking forward to working closely with them on the next.”
Jack Coombs, director at Aspen Bridging, added: “We have fine-tuned our remote capacity systems so foreign national bridges are also subject to our time based service excellence target, which stipulates a 10-day turnaround when the applicant follows our advice, and this is proof the procedure works.”