Aspen Bridging

Aspen funds final build stages of Passivhaus development

Aspen Bridging has completed a £450,000 bridging facility to fund the final build stages of a Passivhaus scheme in Hertfordshire.

Having self-funded the project up to being wind and watertight, the developer required the funds in just six days from application to ensure building work continued as scheduled.

Passivhaus represents an entirely modern and different method of construction to achieve eco-friendly results.

Through this, thermal comfort can be achieved solely by post-heating or post-cooling the fresh air flow required for a good indoor air quality, without the need for additional recirculation of air.

The £450,000 loan was completed on Aspen’s stepped-rate product at 0.59% per month over a 12-month term.

The case was introduced by Jamie Lloyd, director at Xcel Finance, and handled from start to finish by Jamaal McKoy, underwriter at Aspen Bridging. 

Adam Hattersley at Fieldfisher LLP and Ayesha Yunus at Ola Leslie Solicitors dealt with the legals.

Jack Coombs, director at Aspen Bridging, said: “As always, the team stepped up to the challenge, bringing together the developer, surveyor, and legal teams in double quick time to cover all ramifications and deliver on the client’s requirement for a six-day turnaround.

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