Aspen Bridging completes £3.4m worth of loans in a day

Aspen Bridging has completed five loans with a combined total value of £3.4m in just one day.

The feat was achieved on Friday 14 January and included a £1.58m Marshall Island-based corporate new-build apartment purchase, a £889,000 foreign national new-build apartment purchase, £347,000 and £315,000 light development projects, as well as a £315,000 no valuation auction finance purchase.

Aspen revealed that the properties were based in London, Newport, Southend and Swindon and were completed with either the lender’s stepped rate of 0.49% per month or fixed rate at 0.79% per month. The average term among each loan is 11 months, with exits being realised through a mixture of sales and refinance.

Cases were introduced through five different brokers, and all delivered in-line with Aspen’s one-person-per-case service delivery commitment.

Aspen head of sales, Ian Miller-Hawes, commented: “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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