Aspen supports FTB requiring maximum leverage
Aspen Bridging has supported a first-time buyer (FTB) who required the maximum leverage in order to purchase a property.
The property was an off-plan, new-build flat in Fulham Reach Development, and will serve as the applicant’s inaugural buy-to-let investment.
The bridge was completed for £460,000 at a 74% loan-to-value (LTV) and the initial rate is 0.59% per month for six months.
The case was introduced to Aspen by Andrew Thriepland at Capricorn Commercial, while Leigh Haigh at Fieldfisher LLP undertook legals.
Ed Ahrens, managing director of Aspen Bridging, said: “To provide a FTB with the required leverage in the current environment highlights the real can-do attitude of our lending criteria, but more importantly protects the investment for the applicant.”
Thriepland added: “Leverage is vital for property investors, and in this particular case was essential for the applicant to secure the apartment, save their initial investment and begin their career as a property investor.”