Aspen Bridging has provided an £810,000 ‘no valuation’ facility in just 12 days, to help keep a developer’s projects on-track.
Representing 71% loan-to-value (LTV), the funds will be used to finish the build of four two-bedroom flats in a former terraced property in Cromer, Norfolk, as well as raising capital towards the developer’s next project.
The case was handles by underwriter Richard Tweddell, and completed on the lender’s Stepped Rate starting at 0.65% over 12 months.
Jack Coombs, director at Aspen Bridging, said: “We know a good developer and a quality project when we see one, and this is why we have the flexibility in our lending criteria to ensure we can move swiftly and decisively when an application lands that needs action.”
