Jack Coombs

Aspen completes £650,000 bridge with Finance 4 Business

Aspen Bridging has completed a £650,000 bridging loan in just four working days with Finance 4 Business.

The loan was the first completion between the lender and the distributor following an earlier announcement of a soft launch into the bridging market. 

Finance 4 Business' client had been granted planning permission for the conversion and redevelopment of a solicitors’ building in Northampton. 

Aspen attended the site at the same time as the valuer, while Brightstone Law provided the legal services and enabled due diligence to be completed rapidly. 

The facility will be used to redeem the existing arrangements and further enhance the value of the site through planning gain.

Dave Fathers, head of sales at Finance 4 Business, praised Aspen for the seamless transaction from start to finish. 

“Aspen’s automated system enabled the case to progress from application to a position where the case was underwritten [and] valuation and solicitors were instructed, all within the space of two hours. 

“This is an outstanding achievement and a testament to Aspen, whose investment and hard work into this area has been well demonstrated.”

Jack Coombs, director at Aspen Bridging (pictured above), added that it had been great to deliver Finance 4 Business' customers the type of service it had promised to provide.

“The case was a complex redevelopment with multiple titles, but the service provided by Brightstone, our valuation partners, and our in-house development experience enabled us to move quickly in meeting the borrower’s needs end to end.

“The ability to quote in minutes and then follow through to make it reality is at the heart of what we offer at Aspen and we look forward to going the extra mile for many more of Finance 4 Business' customers.”

Jonathan Newman of Brightstone Law added: “Aspen has a long established and high reputation in other forms of asset-backed lending, so we are especially proud to be selected [as its] legal service provider for short-term lending.

“The feedback from Aspen, Finance 4 Business and the borrower has been very positive, so I am assured that the team has demonstrated how execution and delivery at our end can add to the lender proposition they bring to the market.”

Russell Martin, managing director of Finance 4 Business, concluded by saying that it had been working with Aspen from the outset, assisting in bringing it to market. 

“Ed, Jack and the team have set down a new benchmark. 

“Our client was delighted at the professionalism and service he received. 

“I would encourage any broker that has a time-sensitive case – particularly if high leverage is required – to give Finance 4 Business a call and experience the Aspen service.”

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