Aspen Bridging has helped a developer complete five separate deals in less than 12 months at a total loan value of £2.1m.
The returning developer, operating in the West London area, specialises in buying and refurbishing properties which are split into houses in multiple occupation (HMOs) and sold onto the local housing associations.
The latest deal, a £500,000 refurbishment bridge at 80% loan-to-value (LTV) in Hayes, West London, is for a 920 square foot three-bedroom semi-detached house which is being converted into a four-bedroom HMO under permitted development.
All deals were completed on the lender’s stepped rate, the cheapest starting at 0.49% per month, over 10 and 12 month terms.
The overall value of the properties equals £3m.
In-line with the lender’s one-person per-case customer service commitment, the deal was taken from start-to-finish by senior credit analyst, Sinead McMurray.
Jack Coombs, managing director at Aspen Bridging, said: “A returning customer is proof that they appreciated your service, honesty and commitment to securing the right deal at the right time, so to have a developer trust us five times in one year speaks massive volumes.
“Since the business was founded we have placed our award-winning, five-star service at the heart of everything we do, and our one-person per-case philosophy is still largely unique in the sector.”
