Aspen Bridging

Aspen completes bridging loan in 10 days for Nigerian-based investor

Aspen Bridging has completed a £750,000 loan for a Nigerian-based investor in 10 days.

The client needed the facility to refinance an existing BTL mortgage (as it came to the end of its term) and was looking to raise capital, while releasing equity from a London property.

The case was introduced by Michael Abebe, director at Blackstone Private Finance, and was handled by Saif Khalique, underwriter at Aspen Bridging.

Utilising the lender’s integrated legal representation and video signature processes, the applicant was able to meet all deadlines and avoid potentially costly penalties.

The loan was agreed at 75% LTV, at 0.89% per month for 10 months, with no exit fees and redemption charges.

Michael said: “From start to finish, Aspen was great on this case.

“I have never completed a foreign national bridge so quickly before this, and will be looking forward to working closely with them on the next.”

Jack Coombs, director at Aspen Bridging, added: “It was great to work with Michael to get this case over the line, and in the required timeframe.

“We have fine-tuned our remote capacity systems, so foreign national bridges are also subject to our time-based service excellence target, which stipulates a 10-day turnaround when the applicant follows our advice, and this is proof the procedure works."

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