Aspen has completed a £7,825,000 residential purchase bridge on a super-prime property for a foreign national buyer in Kensington, London.
The Nigerian national client required the funds in six weeks to secure a luxury four-bedroom apartment in Lancer Square, immediately behind Kensington Palace Gardens and just off Hyde Park.
The lender utilised remote signing and witnessing agreements for international clients to ensure the funds were available on the exact day required.
The deal was completed at 72% loan-to-value (LTV) on Aspen’s Stepped Rate starting at 0.59% over 10 months.
Exit will be realised through a buy-to-let mortgage.
The application was taken from start-to-finish by head of underwriting Saif Khalique.
Khalique said: “This year we have completed bridging loans on several super-prime properties in Kensington and surrounding areas for both British and foreign nationals.
“We have built a strong reputation for delivering on large ticket-sized loans where reliability pays and for being able to move quickly and seamlessly to meet the demands of high net worth individuals looking to seize new and pressing opportunities to grow their portfolios.”
