The deal was completed at 75% LTV over a 24-month term, with the initial 12-month bridging part on a flat rate of 0.69% per month, followed by a 12-month BTL period priced at 4.49% per annum.

The overseas applicant will use the funds to purchase the property and then sell shares in the home to new owners, creating a timeshare ownership model which is pioneered in the United States.

Exit will be through the sale of shares within the SPV created to deliver the strategy.

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The broker who worked on this deal said: “When I first discussed this deal with Ian Miller-Hawes [head of sales at Aspen] and Jack Coombs [director at Aspen], there was an enthusiasm to understand the client and the structure and how they could assist with the purchase.

“We arranged a Teams call, so the client could see who was lending the money and talk through the business plan. 

“Having a lender who is willing to allocate facetime with a client and understand their business is very refreshing, and I personal cannot wait to work with Aspen again.”