Aspen has secured a near £4m refurbishment bridge for an Egyptian national with a resume of multi-million pound high-end developments.

The lender worked closely with the broker to complete the complex case on the six-bedroom detached property in Beaconsfield, Buckinghamshire, with £2.27m for the property purchase and £830,000 for the cost of works plus retained interest and stamp duty.

Further security was taken against anther six-bedroom home in the commuter belt of Gerrards Cross, Buckinghamshire, which, valued at £2.75m, allowed the client to borrow funds to cover all outgoings.

The deal was competed at 70% LTV on Aspen’s flat rate at 0.90% over 14 months, with exit to be achieved through sale.

In line with Aspen’s one-person-per-case customer service philosophy, the deal was taken from start-to-finish by senior credit analyst, Sinead McMurray.

Sales director at Aspen Bridging, Ian Miller-Hawes, said: “It’s not often you go head-to-head against a fellow bridging lender to win a deal but the fact we could offer a better rate, a deal structured to the applicant’s requirements, and I dare say a first-class service made this a very enjoyable case.

“Our proven track record with multi-million pound bridges for high-end developments put us in a fantastic position from the outset, and once you add in our in-house bespoke remote signing and witnessing agreements for international clients our overall proposition is hard to beat.”

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