Aspen Bridging

Aspen closes £3.63m bridging deal

Aspen Bridging has completed a £3.63m bridging loan for a client looking to secure an investment property in Henley-on-Thames.

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.

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.”

Leave a comment