Aspen Bridging

Aspen provides £460,000 bridging loan for first-time investor

Aspen Bridging has completed a £460,000 bridging loan for a first-time buyer.

The client required maximum leverage to purchase an off-plan, new-build flat in the Fulham Reach Development in Hammersmith, London, and save their initial 10% deposit.

The property will operate as the client’s BTL investment.

The loan was agreed at 74% LTV at the rate of 0.59% per month for the initial 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 at Aspen Bridging, said: “To provide a first-time buyer 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.”

Andrew commented: “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.

“As always, Aspen, and in particular senior underwriter Prabhat Talwar, who took the case from start to finish, immediately understood the aspiration and requirements and worked with all parties to ensure the funds were released as soon as possible.”

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