The 75% LTV facility — agreed on the lender’s flat rate at 0.79% over 10 months — allowed the client to purchase a five-bedroom house with a boathouse, tennis court and swimming pool.
The loan also allowed the client to refinance their existing debt for a separate four-bedroom residential investment property in Oxfordshire.
The borrower will repay the bridging facility by refinancing to a development loan for the new property and selling the existing investment.
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The case was introduced by Capricorn Commercial and handled by Saif Khalique, Aspen’s senior underwriter and loans manager.
Winston Hashtroodi, commercial finance specialist at Capricorn Commercial, said: “Most of the time, when it comes to high value deals, the rate is not the determining factor — what is important is a lender that understands the deal and delivers results.
“Fortunately, Aspen has managed to bring together the best of both worlds; they made sure they looked after the client, took a commercial view on the deal and, more importantly, completed at a very competitive rate.”
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