Aspen lends record £23m in April
Aspen Bridging has set a new monthly completions record, lending £23m in April 2021.
Comprising cases across 11 counties, submitted by 13 broker firms, deals ranged from a £4.5m development exit loan secured against a detached development in Kent to a £219,000 commercial purchase bridge on an office building in Derbyshire.
Products utilised included Rapid Desktop, Light Development, Medium Refurbishment and Commercial to complete finish and exit, development exit, purchase and refinance loans.
The maximum LTVs came in at 75% with terms across the deals running from 10 to 18 months
Aspen generated £150m in formal decisions in principle (DIPs) from January to April 2021, with the strong pipeline continuing throughout April and into May.
Jack Coombs (pictured), director at Aspen said: “Our record performance in April isn’t just the result of our progressive work this year, it’s been our open and innovative approach to lending since the start of 2020 and our willingness to overcome complexity to keep completing the right deals.
“We have built a reputation with brokers whereby they know that coming to Aspen they will get informed answers on whether a deal meets criteria early on which benefits everyone, most notably the client.
“We are now aiming for a further record-breaking May and with the amazing, dedicated team we have in place, and the new recruits we have taken on, we will continue to grow through 2021.”