Aspen secures £500,000 facility for Chinese-based investor

Specialist lender Aspen Bridging has completed a £500,000 facility with a Chinese-based property investor in 10 days.

The six-month deal was secured on a four-bedroom duplex flat in a regeneration area in north London at 75% LTV, with a front-end rate of 0.47% for the first three months.

Aspen was approached by the client when their term finance didn’t meet the completion deadlines set by a developer.

The case was underwritten in three hours and Aspen worked closely with the broker to evidence the exit by way of a BTL mortgage.

Jack Coombs, director at Aspen (pictured above), said: “Most bridging applications throw in an anomaly or two which can really test a lender’s service excellence targets and again the team has proven — through sheer professionalism and original thinking — that these can be overcome to deliver for the client.”

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