Aspen Bridging has achieved £500m in total lending since the business was founded in 2017 by Ed Ahrens, CEO, and Jack Coombs, managing director.
The lender‘s Heavy Refurbishment product accounted for 36% of deals, representing £185m.
Another 21% of deals, totalling £101m, was written on the No Valuation product, which was developed to complete cases in 10 days or under.
Development Exit bridges accounted for 17% of deals, coming in at £94m, with Aspen’s ‘no minimum interest’ approach and low stepped rate product proving the most popular.
The remaining 24%, accounting for £120m of lending, was spread across commercial, buy-to-let purchases and refinances for capital raising.
Just over £40m of this amount was written on the lender’s bridge-to-let product.
Ahrens said: “This is a remarkable achievement, and at the outset I want to thank all our introducers and our amazing staff who have been with us on this journey so far.”
Coombs added: “To go from a standing start to where we are today is a huge success story, we will continue to innovate and rest assured we will lend the next half-a-billion pounds a lot quicker.”
