Aspen completes £2.3m bridge
Aspen Bridging has completed a £2,327,250, 73% LTV bridging loan.
The loan has saved a customer’s £125,000 auction purchase deposit, as well as providing additional funding for a part-finished development.
The loan is to be used towards two properties, a six bedroom semi-detached house and a five-bedroom terraced property, both in Wandsworth, the latter of which has £140,000 works outstanding.
According to the firm, the bridging loan was completed in 15 days at 0.49% for six months on the lender’s stepped rate product.
Ed Ahrens, managing director of Aspen Bridging, said: “To meet an auction purchase deadline of 15 days and assess and agree a finish-and-exit deal simultaneously is a great showcase of our willingness to take on quality but complex cases at speed.”