Aspen Bridging

Aspen completes five bridging loans in one day

Aspen Bridging has completed five bridging loans in one day, totalling £3.4m.

The cases — which were introduced by five different brokers — were all completed on 14th January using five distinct products, with the majority agreed on the lender’s stepped rate at 0.49% pm and its fixed rate at 0.79% pm.

The facilities included:

  • a £1.575m loan for the purchase of a corporate new build apartment in Marshall Island
  • a £889,000 facility for a foreign national looking to purchase a new build flat
  • two facilities worth £347,000 and £315,000 provided for two light development projects
  • a £315,000 loan for an auction purchase, completed using the lender’s no valuation product

The average loan term is 11 months, with exit being realised through a mixture of sales and refinance.

Ian Miller-Hawes, head of sales at Aspen Bridging (pictured above), said: “We have set ambitious business growth targets for 2022 and we have started the year very much on the front foot with completions every single day in January, including the magnificent five on 14th January, which were all on different products.

“The pipeline of new applications from both UK and overseas borrowers is already healthy and growing by the day, with a mixture of new and well known brokers introducing cases.

“At the start of February we will be launching a raft of new products which will make us even more competitive in the marketplace, all backed up by our service delivery commitment which is second-to-none in the bridging finance sector.”

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