Aspen Bridging

Aspen overcomes warranty issues using finish and exit product

Aspen Bridging has provided a £228,000 facility to a client who was unable to complete a three-house property development due to cash flow and warranty issues.

The bridging lender provided the funding over 10 months at 0.69% using its finish and exit product.

Aspen arrived onsite within three days of instruction to ensure all work to date was agreed and in good order.

A retrospective warranty was required — which would ensure the client could refinance once works were completed. 

Aspen also had to resolve a breach of planning as two windows were in incorrect positions.

The client then submitted a retrospective planning application, with an agreement that the situation would be rectified during the term if the submission was declined.

“This case study clearly demonstrates how our new finish and exit product removes many typical market restrictions that would usually see such applications declined,” said Jack Coombs, director at Aspen.

“Its flexibility, and the professionalism of our team, delivered exactly the right result for the client.”

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